Applied DNA Sciences price target lowered to $3 from $6 at Maxim

Maxim analyst Anthony Vendetti lowered the firm’s price target on Applied DNA Sciences to $3 from $6 and keeps a Buy rating on the shares. Applied DNA reported Q4 revenue and gross margin below consensus, but the GAAP loss per share was better than expected, Vendetti tells investors in a research note. The analyst does not expect Applied DNA’s testing contract with CUNY to be renewed following its expiration in July 2023.