Applied DNA Sciences (APDN) Receives a Rating Update from a Top Analyst

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Applied DNA Sciences (APDNResearch Report), with a price target of $13.00. The company’s shares closed last Tuesday at $6.81.

According to TipRanks.com, Chen is a top 100 analyst with an average return of 57.9% and a 52.5% success rate. Chen covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Interpace Diagnostics Group, and HTG Molecular Diagnostics.

Applied DNA Sciences has an analyst consensus of Strong Buy, with a price target consensus of $15.50, implying a 188.1% upside from current levels. In a report released yesterday, Roth Capital also maintained a Buy rating on the stock with a $24.00 price target.

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Based on Applied DNA Sciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.67 million and GAAP net loss of $1.52 million. In comparison, last year the company earned revenue of $552.5K and had a GAAP net loss of $2.95 million.

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Applied DNA Sciences, Inc. engages in the provision of security solutions. It offers molecular-based technology solutions and services that can help protect products, brands, supply chains, and intellectual property of companies, governments, and consumers from theft, counterfeiting, fraud, and diversion. Its products include the following brands: Applied DNA Sciences, SigNature, molecular tags, SigNature, T molecular tags, fiberTyping, DNAnet, digitalDNA, SigNify, BackTrac, Beacon, and CertainT. The company was founded in 1983 and is headquartered in Stony Brook, NY.