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BioScrip (NASDAQ:BIOS) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday. They currently have a $6.75 target price on the stock. Zacks‘s price objective points to a potential downside of 8.54% from the company’s current price.

Zacks’ analyst wrote, “Once again, in the first quarter of 2014, BioScrip delivered a poor bottom-line show. Adjusted net loss from continuing operations of $0.17 per share was much wider than the year-ago adjusted loss per share of $0.01. The results also considerably lagged the Zacks Consensus Estimate of a loss of $0.04. The high-margin PBM business witnessed another quarter of massive downfall, impacted by lower discount cards revenue and the termination of a large contract. This also resulted in a decline in gross profit margin. Growing SG&A expenses following the company’s effort to consolidate recent takeovers adds to our concerns. Meanwhile, reimbursement pressure looms as a potent cause of worry. The competitive landscape is also tough with the presence of larger players. With the dearth of any major near-term catalyst, we downgrade the stock to Underperform.”

BioScrip (NASDAQ:BIOS) traded up 0.41% on Thursday, hitting $7.38. 729,291 shares of the company’s stock traded hands. BioScrip has a 52-week low of $5.61 and a 52-week high of $17.07. The stock’s 50-day moving average is $7.92 and its 200-day moving average is $7.61. The company’s market cap is $505.0 million.

BioScrip (NASDAQ:BIOS) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.13) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.10. The company had revenue of $239.60 million for the quarter, compared to the consensus estimate of $222.65 million. Analysts expect that BioScrip will post $-0.09 EPS for the current fiscal year.

BioScrip, Inc (NASDAQ:BIOS) is a provider of pharmacy and home health services, which partners with patients, physicians, hospitals, healthcare payors and pharmaceutical manufacturers to provide clinical management solutions and the delivery of prescription medications and home health services.

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