Amit Dayal, an analyst from H.C. Wainwright, maintained the Buy rating on BioHarvest Sciences (BHST – Research Report). The associated price target is $14.00.
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Amit Dayal has given his Buy rating due to a combination of factors that highlight BioHarvest Sciences’ strong financial performance and strategic positioning. The company reported a significant increase in revenue and gross profit for the fourth quarter of 2024, showcasing a 61% year-over-year growth in revenue and an 80% increase in gross profit. This financial success is partly attributed to the growing momentum of its VINIA product, which has surpassed 50,000 subscribers, as well as improvements in manufacturing efficiencies and cost reductions.
Additionally, BioHarvest Sciences is expanding its product portfolio into new areas such as coffees, teas, and chews, which is expected to further drive growth. The company’s resilience in the face of market volatility, supported by its pricing advantage over competitors with China-based supply chains, adds to its attractiveness. Furthermore, the recent up-listing to the Nasdaq exchange and efforts to enhance trading volume are anticipated to increase investor interest. The potential for new strategic partnerships in various industry verticals also presents opportunities for future growth, reinforcing the Buy rating.
In another report released on April 3, Maxim Group also reiterated a Buy rating on the stock with a $12.00 price target.