Canaccord Genuity Sticks to Their Buy Rating for Chembio Diagnostics (CEMI)
Canaccord Genuity analyst Max Masucci maintained a Buy rating on Chembio Diagnostics (CEMI) today and set a price target of $22.00. The company’s shares closed last Monday at $12.98.
According to TipRanks.com, Masucci is a 5-star analyst with an average return of 46.6% and a 77.4% success rate. Masucci covers the Healthcare sector, focusing on stocks such as Castle Biosciences, Guardant Health, and Exact Sciences.
Currently, the analyst consensus on Chembio Diagnostics is a Strong Buy with an average price target of $16.00.
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Based on Chembio Diagnostics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.86 million and GAAP net loss of $5 million. In comparison, last year the company earned revenue of $8.54 million and had a GAAP net loss of $2.82 million.
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Chembio Diagnostics, Inc. develops, manufactures, markets and licenses rapid point-of-care diagnostic tests that detect infectious diseases. Its products include human and veterinary diagnostics. The company was founded in 1985 and is headquartered in Medford, NY.
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