Bioanalytical Systems (NASDAQ:BASI) Shares Cross Above 200 Day Moving Average of $10.76


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Bioanalytical Systems, Inc. (NASDAQ:BASI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.76 and traded as high as $20.74. Bioanalytical Systems shares last traded at $20.14, with a volume of 43,290 shares trading hands.

A number of brokerages have recently issued reports on BASI. Colliers Securities reissued a “buy” rating and issued a $17.00 target price on shares of Bioanalytical Systems in a research report on Tuesday, March 9th. Zacks Investment Research raised shares of Bioanalytical Systems from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, February 23rd.

The company’s 50-day moving average is $17.54 and its two-hundred day moving average is $10.84. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.48 and a quick ratio of 0.46. The firm has a market cap of $233.75 million, a P/E ratio of -49.17 and a beta of 1.92.

Bioanalytical Systems (NASDAQ:BASI) last posted its quarterly earnings data on Monday, February 8th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.16. Bioanalytical Systems had a negative net margin of 7.75% and a negative return on equity of 42.74%. The business had revenue of $17.89 million during the quarter. On average, analysts expect that Bioanalytical Systems, Inc. will post -0.41 EPS for the current fiscal year.

In related news, COO John Gregory Beattie bought 1,712 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was purchased at an average price of $18.60 per share, with a total value of $31,843.20. Also, CEO Robert Jr. Leasure bought 5,000 shares of the company’s stock in a transaction dated Wednesday, February 24th. The stock was bought at an average cost of $14.42 per share, with a total value of $72,100.00. Insiders have purchased 11,712 shares of company stock valued at $192,443 in the last ninety days. 11.46% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Bioanalytical Systems in the fourth quarter worth about $124,000. Next Century Growth Investors LLC bought a new position in shares of Bioanalytical Systems in the fourth quarter worth about $534,000. Renaissance Technologies LLC lifted its holdings in shares of Bioanalytical Systems by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 600,065 shares of the company’s stock worth $7,381,000 after acquiring an additional 100,051 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Bioanalytical Systems by 11.1% in the third quarter. BlackRock Inc. now owns 30,722 shares of the company’s stock valued at $146,000 after buying an additional 3,068 shares during the period. 10.62% of the stock is owned by hedge funds and other institutional investors.

Bioanalytical Systems Company Profile (NASDAQ:BASI)

Bioanalytical Systems, Inc, doing business as Inotiv, provides drug discovery and development services to the pharmaceutical, chemical, and medical device industries; and sells analytical instruments to the pharmaceutical development and contract research industries. It operates through two segments, Contract Research Services and Research Products.

Further Reading: What is the Quick Ratio?

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