UPDATE: Piper Jaffray Initiates LipoScience at Overweight Colesterol Test Opportunity

Piper Jaffray initiated LipoScience

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.