From Earlier: Barrington Research Downgrades OraSure Technologies on Valuation
Barrington Research downgraded OraSure Technologies (NASDAQ: OSUR) from Outperform to Market Perform in a research report published today.
In the report, Barrington Research stated, "As expected, OSUR recently received FDA approval of its HIV OTC product following unanimous approval from the Blood Products Committee review board. OSUR has demonstrated a very positive overall accuracy rate of over 99%. The test had an efficacy rate of 93% and an overall safety profile of roughly 99.9%."
Later in the report, Barrington Research noted, "Although we fully believe in both the HIV and HCV opportunities for OSUR, we do believe valuation has become a bit stretched for us to increase our price target to a point that would generate the type of forward 12-month 15-20% return we would expect from an OUTPERFORM-rated, small-cap company."
Shares of OraSure Technologies were trading at $13.19 at the time of posting, up 9.01% from Tuesday's market close.
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