Roth Capital Reiterates Buy On Trinity Biotech Shares, $21 PT
In a research report issued yesterday, Roth Capital analyst Chris Lewis reiterated a Buy rating on Trinity Biotech (NASDAQ:TRIB) and reduced his price target to $21 (from $30).
Lewis noted, “TRIB reported mixed 3Q results as its organic base business continues to produce low single digit organic growth and margins remain depressed. More importantly, TRIB has suspended enrollment for its U.S. troponin trial until February 2015, delaying potential FDA approval from 3Q15 to 1H16. We maintain our Buy rating as TRIB’s long-term risk-reward still remains favorable at current levels but have lowered our projections and target price”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -8.2% and a 35.9% success rate. Lewis has a -33.9% average return when recommending TRIB, and is ranked #3223 out of 3343 analysts.