Applied DNA Sciences (NASDAQ:APDN) Given “Buy” Rating at Maxim Group

Applied DNA Sciences (NASDAQ:APDN)‘s stock had its “buy” rating restated by Maxim Group in a research report issued to clients and investors on Friday, TipRanks reports. They presently have a $21.00 price target on the technology company’s stock. Maxim Group’s target price would suggest a potential upside of 110.00% from the stock’s current price.

APDN has been the topic of a number of other reports. ValuEngine cut shares of Applied DNA Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price (up from $18.00) on shares of Applied DNA Sciences in a report on Monday, July 20th.

Shares of Applied DNA Sciences stock traded up $1.29 during trading hours on Friday, reaching $10.00. 18,595,860 shares of the company’s stock were exchanged, compared to its average volume of 1,891,067. The company has a 50 day moving average of $8.51 and a two-hundred day moving average of $6.40. Applied DNA Sciences has a fifty-two week low of $2.52 and a fifty-two week high of $19.69. The company has a current ratio of 5.39, a quick ratio of 5.35 and a debt-to-equity ratio of 0.20. The stock has a market cap of $46.80 million, a P/E ratio of -2.02 and a beta of 1.00.

Applied DNA Sciences (NASDAQ:APDN) last posted 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). Applied DNA Sciences had a negative return on equity of 279.79% and a negative net margin of 167.84%. The business had revenue of $0.55 million for the quarter. As a group, analysts expect that Applied DNA Sciences will post -2.4 earnings per share for the current fiscal year.

In related news, insider William W. Montgomery purchased 75,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $5.25 per share, with a total value of $393,750.00. Following the acquisition, the insider now directly owns 140,000 shares in the company, valued at $735,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William W. Montgomery purchased 110,000 shares of the stock in a transaction on Friday, June 26th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $577,500.00. Following the completion of the acquisition, the insider now owns 135,000 shares in the company, valued at $708,750. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 225,000 shares of company stock worth $1,181,250. 22.42% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Group AG raised its holdings 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 acquiring an additional 10,534 shares during the period. Creative Planning bought a new position in Applied DNA Sciences in the 2nd quarter valued at about $83,000. Sabby Management LLC bought a new position in Applied DNA Sciences in the 1st quarter valued at about $106,000. Finally, Morgan Stanley grew its position in shares of Applied DNA Sciences by 1,731.7% during the 1st quarter. Morgan Stanley now owns 59,641 shares of the technology company’s stock worth $240,000 after purchasing an additional 56,385 shares in the last quarter. 8.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Depreciation

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