DNA technologies provider Applied DNA’s (NASDAQ:APDN) stock is soaring today after the company announced a large purchase order for LinearDNA.
The single largest purchase order to date for the company is upwards of mid-six figures and is from a global manufacturer of in vitro diagnostics (IVDs).
The order in full is expected to be delivered over the next three quarters. Importantly, LinearDNA obliviates the usage of fermenters and bacteria needed by plasmid DNA, which is the current manufacturing standard.
Will APDN Stock Go Up?
Despite today’s price gains, Applied DNA stock is still down ~25% over the past month and the Street remains cautiously optimistic, with a Moderate Buy consensus rating.
Additionally, the two unanimous Buy ratings point to an average price target of $7 for APDN stock. This implies 227.1% upside potential for the stock.
