Ladenburg raised the firm’s price target on Paysign to $6 from $5.40 and keeps a Buy rating on the shares following the Q4 report. The company’s strong financial results for 2023 and management’s comments concerning traffic patterns and the potential for increasing numbers of new pharma programs in 2024 point to continued solid revenue gains through 2025 for Paysign, the analyst tells investors in a research note. The firm believes the company’s pharma segment is now the primary driver of revenue growth.
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