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Hologic Deserves To Trade At A Premium, Says Bank Of America

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Bank of America reiterated a Buy on Hologic, Inc. (NASDAQ: HOLX), just one day after the company announced the FDA has approved the use of its Procleix Zika Virus Assay to screen the U.S. blood supply for the Zika virus.

U.S. Blood centers in southern parts of the country that are susceptible to the Zika virus will use the Procleix Zika virus assay to screen donated blood for the virus. Testing could be expanding throughout the US if the virus spreads.

Bank of America analysts report, "Zika blood screening test release is a step in the right direction." While the FDA hasn't mandated a Zika screening yet, it could do so as early as this summer.

Bank of America’s bull case suggests the new Zika screening is a 20-25 million sales opportunity for the company. Hologic is rated a Buy given “positive fundamentals and a very reasonable valuation."

Hologic was down 0.7 percent at $33.88.

 

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