H.C. Wainwright Reiterates Their Buy Rating on Applied DNA Sciences (APDN)

By Carrie Williams

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Applied DNA Sciences (APDNResearch Report), with a price target of $18.00. The company’s shares closed last Friday at $11.64.

According to TipRanks.com, Chen is a top 100 analyst with an average return of 69.0% and a 57.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, HTG Molecular Diagnostics, and EyePoint Pharmaceuticals.

Currently, the analyst consensus on Applied DNA Sciences is a Moderate Buy with an average price target of $16.50, which is a 189.0% upside from current levels. In a report issued on January 5, Maxim Group also reiterated a Buy rating on the stock with a $15.00 price target.

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Based on Applied DNA Sciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $314K and GAAP net loss of $4.12 million. In comparison, last year the company earned revenue of $1.67 million and had a GAAP net loss of $1.22 million.

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Applied DNA Sciences, Inc. engages in the provision of security solutions. It offers molecular-based technology solutions and services that can help protect products, brands, supply chains, and intellectual property of companies, governments, and consumers from theft, counterfeiting, fraud, and diversion. Its products include the following brands: Applied DNA Sciences, SigNature, molecular tags, SigNature, T molecular tags, fiberTyping, DNAnet, digitalDNA, SigNify, BackTrac, Beacon, and CertainT. The company was founded in 1983 and is headquartered in Stony Brook, NY.