After Piper Jaffray and Craig-Hallum gave Quidel Corp (NASDAQ: QDEL) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Jack Meehan maintained a Buy rating on Quidel Corp yesterday and set a price target of $85. The company’s shares closed yesterday at $73.66, close to its 52-week high of $77.63.
According to TipRanks.com, Meehan is a 4-star analyst with an average return of 9.6% and a 63.6% success rate. Meehan covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Myriad Genetics, and Genomic Health.
Quidel Corp has an analyst consensus of Strong Buy, with a price target consensus of $78.
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Based on Quidel Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.08 million. In comparison, last year the company had a GAAP net loss of $11.84 million.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Kenneth Buechler, a Director at QDEL sold 5,000 shares for a total of $375,000.
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Quidel Corp. engages in the development, manufacture, and market of rapid diagnostic testing solutions. Its portfolio includes immunoassays, molecular diagnostics, virology, and specialty products. Immunoassay tests are for physician offices, hospital laboratories, emergency departments, pharmacies, and other urgent care or alternative site settings.
