Oppenheimer Holdings Reiterates Outperform Rating, $43 PT on Cepheid
In a report published Friday, Oppenheimer Holdings reiterated its Outperform rating and $43.00 price target on Cepheid (NASDAQ: CPHD).
Oppenheimer Holdings noted, “CPHD received clearance from the FDA to market its Xpert CT/NG test for Chlamydia trachomatis and Neisseria gonorrhoeae. Clearance was anticipated and in-line with guidance. We continue to view US launch of the test as a key stock driver, as CT/NG represents a large, well defined diagnostic market. Management believes the Xpert CT/NG will be meaningfully differentiated from the competition through its rapid turnaround time and accuracy. CPHD looks to decentralize the CT/NG market as ~70% of hospitals outsource CT/NG testing. Given Cepheid's large and growing installed base (1,200 in North America) we expect fairly rapid adoption. Beyond CT/NG we remain focused on the operational issues that affected 3Q12 results. We are hopeful that these problems are resolved.”
Cepheid closed on Thursday at $32.70.
Latest Ratings for CPHD
|Jun 2016||Morgan Stanley||Initiates Coverage on||Equal-weight|
|Apr 2016||BTIG Research||Upgrades||Neutral||Buy|
|Feb 2016||Stifel Nicolaus||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.