Maxim Group set a $5.00 price target on Applied DNA Sciences (NASDAQ:APDN) in a report published on Friday. The firm currently has a buy rating on the technology company’s stock.

“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) traded down $0.08 during midday trading on Friday, hitting $1.44. The company had a trading volume of 294,466 shares, compared to its average volume of 152,089. Applied DNA Sciences has a one year low of $0.90 and a one year high of $3.45. The company has a market capitalization of $45.77, a price-to-earnings ratio of -3.20 and a beta of -0.67.

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.

COPYRIGHT VIOLATION WARNING: This piece was published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.dailypolitical.com/2018/02/10/maxim-group-analysts-give-applied-dna-sciences-apdn-a-5-00-price-target.html.

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.

Receive News & Ratings for Applied DNA Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied DNA Sciences and related companies with MarketBeat.com's FREE daily email newsletter.