Canaccord Genuity analyst Max Masucci maintained a Buy rating on Chembio Diagnostics (CEMI) today and set a price target of $20.00. The company’s shares closed last Monday at $12.25.
According to TipRanks.com, Masucci is a 5-star analyst with an average return of 48.2% and a 54.2% 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, representing a 27.6% upside. In a report issued on April 23, Craig-Hallum also maintained a Buy rating on the stock with a $21.00 price target.
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Based on Chembio Diagnostics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.85 million and GAAP net loss of $3.89 million. In comparison, last year the company earned revenue of $7.77 million and had a GAAP net loss of $3.17 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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