Applied DNA Sciences (NASDAQ:APDN) Receives Buy Rating from Maxim Group

Maxim Group reiterated their buy rating on shares of Applied DNA Sciences (NASDAQ:APDN) in a research note published on Friday morning, TipRanks reports. They currently have a $18.00 price objective on the technology company’s stock.

Several other research firms have also weighed in on APDN. HC Wainwright reduced their price objective on Applied DNA Sciences from $14.00 to $13.00 and set a buy rating on the stock in a research note on Wednesday, April 28th. Zacks Investment Research upgraded Applied DNA Sciences from a sell rating to a hold rating in a report on Monday, May 10th. Finally, Roth Capital initiated coverage on Applied DNA Sciences in a report on Friday, February 12th. They set a buy rating and a $24.00 target price on the stock.

NASDAQ APDN opened at $6.35 on Friday. The firm has a market capitalization of $47.45 million, a P/E ratio of -1.84 and a beta of 1.40. Applied DNA Sciences has a 1-year low of $4.95 and a 1-year high of $14.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.13 and a quick ratio of 2.01. The business’s 50-day simple moving average is $6.71 and its 200-day simple moving average is $7.89.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings data on Wednesday, May 12th. The technology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.12). Applied DNA Sciences had a negative net margin of 672.79% and a negative return on equity of 179.48%. On average, equities research analysts expect that Applied DNA Sciences will post -0.33 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Applied DNA Sciences by 2.5% during the 1st quarter. BlackRock Inc. now owns 89,526 shares of the technology company’s stock valued at $643,000 after buying an additional 2,207 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Applied DNA Sciences during the 4th quarter worth approximately $65,000. Golden Green Inc. purchased a new stake in Applied DNA Sciences during the 4th quarter worth approximately $70,000. Premier Asset Management LLC purchased a new stake in Applied DNA Sciences during the 1st quarter worth approximately $144,000. Finally, Creative Planning increased its holdings in Applied DNA Sciences by 39.1% during the 4th quarter. Creative Planning now owns 81,145 shares of the technology company’s stock worth $414,000 after purchasing an additional 22,794 shares during the last quarter. Institutional investors and hedge funds own 7.04% of the company’s stock.

Applied DNA Sciences Company Profile

Applied DNA Sciences, Inc develops and markets DNA-based technology solutions for use in the nucleic acid-based in vitro diagnostics and preclinical nucleic-acid based drug development and manufacturing markets; and for supply chain security, anti-counterfeiting, and anti-theft technology purposes applications in the United States, Europe, and Asia.

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