Chembio Diagnostics – Consensus Indicates Potential 69.2% Upside

Broker Ratings

Chembio Diagnostics with ticker code (CEMI) have now 2 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The range between the high target price and low target price is between 10 and 8 calculating the average target price we see 9. Now with the previous closing price of 5.32 this would indicate that there is a potential upside of 69.2%. The day 50 moving average is 5.59 while the 200 day moving average is 4.94. The market capitalisation for the company is $110m. Company Website: http://chembio.com

Chembio Diagnostics, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for HIV and Syphilis, and Zika virus. It also develops tests for malaria, Dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi. In addition, the company develops tests for a specific form of cancer, concussion, and bovine tuberculosis; and handheld optical analyzers for rapid diagnostic tests. It sells its products under the STAT-PAK, SURE CHECK, STAT VIEW, or DPP trademarks, as well as under the private labels of its marketing partners to medical laboratories and hospitals, governmental and public health entities, non-governmental organizations, medical professionals, and retail establishments in the United States and internationally. The company has collaboration agreements with Concussion Science Group Division of Perseus Science Group LLC to develop a POC diagnostic test for traumatic brain injury; Foundation for Innovative New Diagnostics to develop a POC fever panel assay for life-threatening acute febrile illnesses; AstraZeneca to develop a POC test for eosinophilic respiratory disease; and Shire Human Genetic Therapies to develop a novel POC diagnostic test. It also has a strategic partnership with LumiraDx Limited to develop point-of-care diagnostic tests for the detection of the COVID-19 virus, and IgM and IgG antibodies on the LumiraDx and Chembio DPP platforms. Chembio Diagnostics was founded in 1985 and is headquartered in Hauppauge, New York.

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