UPDATE: Ladenburg Thalmann Raises PT to $16.50 on BG Medicine
Ladenburg Thalmann raises its price target on Buy-rated BG Medicine (NASDAQ: BGMD) to $16.50 from $8.25 a share on strong top-line data for CardioSCORE.
Ladenburg Thalmann says, "Based on the 2x improvement in predictive power for CardioSCORE over the current gold standard (Framingham Risk Score) and large size of the validation cohort, we believe CardioSCORE has established a firm footing for clinical utility as a screening tool. As such, we are adding the test to our revenue forecast with peak gross sales of $325M. The impact of CardioSCORE economics raises our base year EPS estimate (2017) from $0.71 to $1.42."
BGMD closed at $8.27 a share on Monday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.