Quidel Corp Got Some Good News

By Ryan Adsit

In a report released today, Mark Massaro from Canaccord Genuity upgraded Quidel Corp (NASDAQ: QDEL) to Buy. The company’s shares closed yesterday at $34.12, close to its 52-week high of $34.16.

According to TipRanks.com, Massaro is a 5-star analyst with an average return of 14.1% and a 62.5% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Orasure Technologies.

Quidel Corp has an analyst consensus of Moderate Buy, with a price target consensus of $24.50.

Based on Quidel Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $73.69 million and quarterly net profit of $14.29 million. In comparison, last year the company earned revenue of $39.13 million and had a GAAP net loss of $7.84 million.

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Quidel Corp. engages in the development, manufacture, and market of rapid diagnostic testing solutions. Its portfolio includes immunoassays, molecular, virology, and specialty products. Immunoassay tests are for physician offices, hospital laboratories, emergency departments, pharmacies, and other urgent care or alternative site settings.