Northland Securities analyst Carl Byrnes maintained a Buy rating on Aytu BioScience Inc (AYTU) today and set a price target of $10. The company’s shares opened today at $1.59.
Byrnes noted:
“We anticipate MiOXSYS to emerge as a material contributor to future revenue growth bolstered by regulatory clearance in multiple jurisdictions. Pre-open, Aytu BioScience announced that it has entered into an exclusive distribution agreement with Co., Ltd. (BDST) to commercialize in China. As part of the agreement, BDST has made an initial MiOXSYS System purchase for conducting clinical trials in China. BDST is anticipated to begin clinical studies and communications with the Administration (CFDA) in the forthcoming months. China-based clinical testing is expected to be completed in 2021. We note that the infertility rate in China is ~12%-15%, having risen significantly in recent years.”
According to TipRanks.com, Byrnes ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.1% and a 24.0% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Aridis Pharmaceuticals Inc, and Adamas Pharmaceuticals.
Currently, the analyst consensus on Aytu BioScience Inc is a Moderate Buy with an average price target of $10.
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The company has a one-year high of $6.96 and a one-year low of $0.23. Currently, Aytu BioScience Inc has an average volume of 1.01M.
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