Maxim Group Keeps a Hold Rating on Applied DNA Sciences (APDN)

By Austin Angelo

Maxim Group analyst Anthony Vendetti maintained a Hold rating on Applied DNA Sciences (APDNResearch Report) yesterday. The company’s shares opened today at $0.59.

Vendetti commented:

“2019, APDN announced that its cannabis partner, TheraCann International (private), secured an agreement with South African company, House of Hemp (private), for molecular tagging. in partnership with TheraCann, announced a partnership with Chinese hemp company CannAcubed (private). The company remains non-complaint with NASDAQ listing requirements. We remain concerned about APDN’s capital structure, and believe the company will need to raise capital going forward. 2019, APDN reported FY2Q19 (Mar) revenue below our expectations, but a narrower GAAP loss per share compared to our estimates. Based on our new projections, we are reducing our FY19 and FY20 (Sept) revenue estimates.”

According to TipRanks.com, Vendetti is a 3-star analyst with an average return of 1.6% and a 45.1% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Xtant Medical Holdings, and Ra Medical Systems Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Applied DNA Sciences.

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The company has a one-year high of $1.84 and a one-year low of $0.30. Currently, Applied DNA Sciences has an average volume of 480.1K.

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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.