Roth Capital Reiterates Buy On Nanosphere Following FDA Clearance
Nanosphere, Inc. (NSPH) announced this morning that it received FDA clearance for the bacterial portion of its enteric pathogen (EP) test. NSPH plans to submit additional clinical data for two viral targets to the FDA and expects clearance of the full EP panel in 3Q.
Roth Capital analyst Chris Lewis believes that this approval further expands NSPH’s menu offering to customers and he expect the EP test to drive meaningful revenue growth beginning in 2015. “NSPH’s EP allows for more rapid identification of bacterial or viral causes of infectious diarrhea, leading to improved detection accuracy, patient outcomes, and workflow / economic benefits. We peg the EP market opportunity at ~$400 million”, said Lewis. As a result, the analyst reiterates a Buy rating and $3.00 price target on NSPH.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Chris Lewis currently has a one-year average return of -1.5% and a 33% success rate. Lewis has a -25% average profit recommending NSPH, and he is ranked #2557 out of 3128 analysts.