Chardan Capital Reaffirms Their Buy Rating on DarioHealth Corp (DRIO)

In a report released today, Steven Wardell from Chardan Capital reiterated a Buy rating on DarioHealth Corp (DRIOResearch Report), with a price target of $0.70. The company’s shares closed last Monday at $0.36, close to its 52-week low of $0.30.

Wardell observed:

“We liked the shift in channels and the launch of the Hypertension tools. We see the stock as undervalued in the important and growing category of next- generation diabetes solutions. We reiterate our Buy rating and lower our price target to $0.70 based on the stock’s lower multiple and the additional shares from the recent financing.”

According to TipRanks.com, Wardell is a 4-star analyst with an average return of 15.7% and a 51.4% success rate. Wardell covers the Technology sector, focusing on stocks such as Benefitfocus, Phreesia Inc, and Model N.

DarioHealth Corp has an analyst consensus of Moderate Buy, with a price target consensus of $1.10.

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The company has a one-year high of $1.32 and a one-year low of $0.30. Currently, DarioHealth Corp has an average volume of 87.92K.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DRIO in relation to earlier this year.

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DarioHealth Corp. is a digital therapeutics company, which engages in the research, development, and sale of pharmaceutical products. It offers a monitoring device, mobile application, and data services for diabetes management. Its solutions include MyDario, Daro Engage, and Dario Intelligence.