UPDATE: Piper Jaffray Initiates LipoScience at Overweight Colesterol Test Opportunity
Piper Jaffray initiated LipoScience (NASDAQ: LPDX) with an Overweight rating rating and a $15.00 price target.
Piper Jaffray noted, "Going forward, we anticipate ongoing traction converting the ~78M domestic LDL-C patient monitoring assays (~$1.8B market) to LDL-P and would note ~11% penetration (in line with North Carolina) represents a ~$330M annual revenue run-rate for LPDX. We believe LipoScience is positioned to meet and potentially beat our forward top and bottom-line projections and we are buyers of LPDX shares at current levels."
LipoScience closed at $11.00 on Friday.
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