Barrington Thinks BioScrip Inc’s Stock is Going to Recover

By Ryan Adsit

Barrington analyst Michael Petusky maintained a Buy rating on BioScrip Inc (BIOSResearch Report) today and set a price target of $4. The company’s shares opened today at $1.96, close to its 52-week low of $1.56.

Petusky wrote:

“We think they should have held one given that management is currently engaged in selling BIOS investors on the benefits of the pending Option Care transaction.”

According to TipRanks.com, Petusky is a 3-star analyst with an average return of 3.3% and a 47.8% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.

Currently, the analyst consensus on BioScrip Inc is a Strong Buy with an average price target of $3.88, implying a 98.0% upside from current levels. In a report issued on May 1, Lake Street also maintained a Buy rating on the stock with a $4.50 price target.

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Based on BioScrip Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $15.36 million. In comparison, last year the company had a GAAP net loss of $13.02 million.

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BioScrip, Inc. engages in the provision of home infusion and home care management solutions. It partners with physicians, hospital systems, skilled nursing facilities, healthcare payors, and pharmaceutical manufacturers to provide patients access to post-acute care services. The company was founded in 1996 and is headquartered in Denver, CO.