Courtesy of Benzinga.
Hologic, Inc. (NASDAQ: HOLX) shares outperformed very modestly Monday following news the company and Grifols’ Zika virus assay received FDA approval. The stock closed up nearly 1 percent versus a 0.73 percent rally in the Dow Jones Industrial Average and a 0.58 percent increase in the S&P 500 cash.
Jefferies’ Raj Denhoy offered his thoughts amid the news.
“While positive, the financial impact of the approval should be minimal. Hologic’s test is the fourth now available and the use case for individual testing is still very limited. Authorization for Zika testing in blood screening is expected any day and that test has the potential to be more meaningful,” according to Denhoy.
The Jefferies analyst gave detail into that “more meaningful” opportunity. Denhoy noted if active screening is adopted, Hologic’s opportunity could be in the $20 million to $25 million per year range.
Jefferies and Denhoy maintained a Buy rating and $42 price target on shares of Hologic.
Latest Ratings for HOLX
Date | Firm | Action | From | To |
---|---|---|---|---|
Apr 2016 | Needham | Downgrades | Buy | Hold |
Jan 2016 | Needham | Upgrades | Hold | Buy |
Jan 2016 | JP Morgan | Maintains | Overweight |
View More Analyst Ratings for HOLX
View the Latest Analyst Ratings
Posted-In: Jefferies Raj Denhoy ZikaAnalyst Color News Analyst Ratings