Analyst Explains Why They Upgraded Their Rating on Applied DNA Sciences (APDN)

In a report released today, Yi Chen from H.C. Wainwright upgraded Applied DNA Sciences (APDNResearch Report) to Buy, with a price target of $11.00. The company’s shares closed last Monday at $6.06, close to its 52-week low of $4.65.

According to TipRanks.com, Chen is a 5-star analyst with an average return of 33.3% and a 42.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Interpace Diagnostics Group, and HTG Molecular Diagnostics.

Applied DNA Sciences has an analyst consensus of Moderate Buy, with a price target consensus of $17.50.

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Based on Applied DNA Sciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.7 million and GAAP net loss of $3.45 million. In comparison, last year the company earned revenue of $431.5K and had a GAAP net loss of $3.29 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.

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