Applied DNA Sciences (NASDAQ:APDN)‘s stock had its “buy” rating reissued by research analysts at Maxim Group in a report issued on Friday, TipRanks reports. They presently have a $21.00 target price on the technology company’s stock. Maxim Group’s price target suggests a potential upside of 110.00% from the company’s previous close.
APDN has been the topic of several other research reports. ValuEngine lowered shares of Applied DNA Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 22nd. HC Wainwright reiterated a “buy” rating and set a $22.00 target price (up from $18.00) on shares of Applied DNA Sciences in a research report on Monday, July 20th.
APDN stock opened at $10.00 on Friday. Applied DNA Sciences has a twelve month low of $2.52 and a twelve month high of $19.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.39 and a quick ratio of 5.35. The business’s 50-day simple moving average is $8.51 and its 200 day simple moving average is $6.40.
Applied DNA Sciences (NASDAQ:APDN) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.02). The firm had revenue of $0.55 million during the quarter. Applied DNA Sciences had a negative return on equity of 279.79% and a negative net margin of 167.84%. As a group, equities research analysts expect that Applied DNA Sciences will post -2.4 EPS for the current fiscal year.
In other news, insider William W. Montgomery bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $5.25 per share, for a total transaction of $210,000.00. Following the transaction, the insider now directly owns 215,000 shares of the company’s stock, valued at approximately $1,128,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William W. Montgomery bought 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $5.25 per share, with a total value of $393,750.00. Following the transaction, the insider now directly owns 140,000 shares in the company, valued at $735,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 225,000 shares of company stock valued at $1,181,250 in the last 90 days. 22.42% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning bought a new stake in Applied DNA Sciences during the 2nd quarter worth approximately $83,000. UBS Group AG raised its position in Applied DNA Sciences by 575.6% in the 2nd quarter. UBS Group AG now owns 12,364 shares of the technology company’s stock valued at $100,000 after purchasing an additional 10,534 shares during the last quarter. Sabby Management LLC acquired a new position in Applied DNA Sciences in the first quarter worth $106,000. Finally, Morgan Stanley grew its holdings in shares of Applied DNA Sciences by 1,731.7% during the first quarter. Morgan Stanley now owns 59,641 shares of the technology company’s stock worth $240,000 after purchasing an additional 56,385 shares during the last quarter. 8.09% of the stock is currently owned by institutional investors and hedge funds.
About Applied DNA Sciences
Applied DNA Sciences, Inc develops and markets plat based or other DNA technology solution in the United States, Europe, and Asia. The company's supply chain security and product authentication solutions include SigNature molecular tags that are ingredients used to fortify brand protection efforts and strengthen supply chain security, as well as mark, track, and convict criminals; SigNature T molecular tags, which are tagging and authentication systems for use in brand protection efforts and raw material source compliance programs; and fiberTyping, a test of native cotton fiber DNA.
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