Wedbush Maintains Neutral Rating on Quidel

According to Wedbush, Quidel

Neutral rating is maintained. Wedbush said that the CDC and collaborating laboratories administered 2,993 flu tests resulting in 64 positives during week 50 which was a slight increase versus the 2,480 tests performed and 48 positive cases during week 49. “Our $13 target is based on a 2012 EV/sales multiple of 2.4x, which represents roughly a 17% discount versus the peer group median of 2.9x, which is fair to us given the seasonality of the business and the slower organic growth profile.” Quidel closed yesterday at $15.67.