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A large institutional buy, this is significant because of the low issued share count of 11M
2:46 PM ET 12/22/20 |
. Analyst Kyle Bauser said, "We are initiating coverage of Bioanalytical Systems (dba Inotiv) with a Buy rating and $17 Price Target. BASI is a contract research organization (CRO) that provides nonclinical and analytical contract research services to life science companies. Currently trading at roughly half the peer group average, we believe there is considerable upside to BASI shares, particularly given its premium growth rate. Following channel checks with several biotech companies, we learned that not only does BASI have a full range of service offerings, but the company's customer service and quality make it undoubtedly the best-in-class CRO. Our $17 Price Target assumes a 3.2x EV/sales multiple (peer group average) applied to $69.2M CY21E sales, $26.0M net debt, and 11.6M FD shares."
Annual Report From SEC on 10-K
https://sec.report/Document/0001104659-19-076191/