Maxim Group Analysts Give Applied DNA Sciences (APDN) a $5.00 Price Target
“While we expect cotton to generate the majority of revenue in FY18, we believe several other industries have the opportunity to ramp. Although F1Q revenue of $648,000 was below our estimate, management reiterated it has $6.5 million in recurring revenue and several opportunities that could drive incremental demand. We now estimate revenue of $9.0 million (from $11.6 million) in FY18 and $15.8 million (from $20.3 million) in FY019. We maintain our Buy rating and $5 price target.”,” Maxim Group’s analyst commented.
Separately, ValuEngine upgraded Applied DNA Sciences from a strong sell rating to a sell rating in a research report on Friday, February 2nd.
Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings results on Thursday, December 28th. The technology company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). Applied DNA Sciences had a negative return on equity of 150.05% and a negative net margin of 268.66%. The company had revenue of $1.15 million for the quarter.
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Applied DNA Sciences Company Profile
Applied DNA Sciences, Inc is engaged in creating security solutions addressing the challenges of modern commerce. The Company is also engaged in the large-scale production of specific deoxyribonucleic acid (DNA) sequences using the polymerase chain reaction (PCR). Its principal technology platform includes SigNature DNA, SigNature T DNA, fiberTyping, DNAnet, digitalDNA, SigNify and Beacon.
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