STOCKS TELEGRAPH

Tag: CEMI

  • Chembio Diagnostics, Inc. (CEMI) Stock Plummeted in Pre-Market as it Missed the EPS Estimates.

    Chembio Diagnostics, Inc. (CEMI) Stock Plummeted in Pre-Market as it Missed the EPS Estimates.

    Chembio Diagnostics, Inc. (CEMI) is a novel and leading global diagnostics biotechnology company engaged in the development and commercialization of testing facilities for the detection and diagnosis of different diseases. These diseases include STD, insect vector, and tropical disorders, along with COVID-19, enabling accelerated therapeutics. The company’s innovative DPP technology offers market applications for infectious diseases.

    The price of CEMI stock during regular trading on March 3, 2022, was $0.92 with a decline of 3.37%. In the pre-market, its price was last checked to be plunged further by 11.9%.

    CEMI: Key Financials

    On March 3, 2022, CEMI released its unaudited fourth-quarter financials for the period ended December 31, 2021. Some of the fundamental highlights are discussed below.

    Revenue

    Total revenue of the fourth quarter in 2021 was $20.5 million against $10.2 million in the same quarter of 2020. The total revenue of the company gained momentum over the year by $10.3 million along with beating the analysts’ expectations by $7.02 million

    EPS

    Net loss basic and diluted per share in the fourth quarter of 2021 was $13.9 million or $0.47 as compared to $7.13 million or $0.35 in the corresponding quarter of 2020. The company observed a significant reduction in its EPS over the year along with missing the EPS estimates by -$0.27.

    CEMI: Events and Happenings

    On January 06, 2022, CEMI updated on awarding the grant of nonqualified stock option and an RSU to its new CFO following Nasdaq Listing Rules outside of any stock equity plan. The awards were granted concerning the terms of his employment contract with the company. On January 05, 2022, CEMI reported on appointing Larry Steenvoorden as the company’s new Chief Financial Officer with immediate effect.

    On December 06, 2021, CEMI announced the submission of a De Novo/510(k) Application to the FDA for the DPP SARS-CoV-2 Antigen test platform.

    Conclusion

    CEMI stock down-performed by 78% in 2021 as the peak time of the pandemic hit the global economy adversely. The company observed a declining trend in Thursday’s aftermarket trading as it released its financial statement and missed the EPS estimates. For the first fiscal quarter of 2022, the company expects revenue in the range of $12.2 million with an EPS of -$0.23.

  • Chembio Diagnostics, Inc. (CEMI) stock Dives Further Deep After Hours. Why?

    Chembio Diagnostics, Inc. (CEMI) stock Dives Further Deep After Hours. Why?

    Chembio Diagnostics, Inc. (CEMI) stock declined during the regular session on Tuesday, which continued sharply in the after-hours. While it lost 6.59% during regular trading, CEMI nose dived by 21.79% in the after-hours. No news from the company is responsible for the bearish momentum of the stock.

    During the regular session, CEMI traded between $1.55 and %1.70, closing the session at $1.56. The stock tumbled further down in the after-hours to reach $1.22 at 806.46K shares.

    Currently, the 30.05 million outstanding shares of the company trade at a market capitalization of $50.18 million.

    CEMI’s FDA De Novo/510(k) Request

    On December 06, CEI announced to have submitted De Novo/510(k) Request for the DPP SARS-CoV-2 Antigen test system to the FDA. Read with the DPP Micro Reader or DPP Micro Reader 2 optical analyzer, the test system can detect SARS-CoV-2 antigens within 20 minutes. Furthermore, it can also detect up to eight test results from a single patient sample.

    Moreover, the company was awarded to support the development of the COVID-19 point-of-care antigen test system using its proprietary DPP technology by BARDA. Biomedical Advanced Research and Development Authority (BARDA) is a part of the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response. In addition to the funding for the clinical studies, BARDA’s support also included preparation of De Novo/510(k) submission.

    The company’s CEO and President, Richard Eberly shared his hopefulness for a straightforward review process with the FDA.

    SHAPRA Approval

    Previously, CEI had announced receiving SHAPRA approval for the DPP SARS-CoV-2 Antigen Test, on November 29. The South Africa Health Products Regulatory Authority (SHAPRA) approved the marketing and distribution of the test to professional healthcare providers.

    Richard Eberly remarked on the approval to be another proof of the strong sensitivity and specificity performance of the test system. Moreover, CEMI will now be providing an additional testing solution to its distributor, Patient Focus Africa (PFA), to its SARA-CoV-2 IgM/IgG Antibody test. Furthermore, the DPP SARS-CoV-2 Antigen test and the IgM/IgG Antibody test, both are authorized by the company’s distributor pursuant to SHAPRA’s license.

    Patient Focus Africa is accredited by the World Health Organization for near-patient testing, wellness, and professional point of care testing. Moreover, PFA is also owned partially by Discovery Health. Which is the largest private healthcare insurance provider in South Africa.

  • Is there any news of rising Chembio Diagnostics, Inc. (CEMI) stock today?

    Shares of the Chembio Diagnostics, Inc. (CEMI) stock were rising in the pre-market trading session today on July 26, 2021. The CEMI stock price saw an uptrend of 1.31 % to reach $3.10 a share at the time of this writing. The stock went down at the previous closing by 29%. Let’s deep dive to explore more of it.

    What’s Happening?

    CEMI is the developer and manufacturer of point-of-care (POC) diagnostic tests that help in the diagnosis of diseases. There is no news related to CEMI stock today to justify the bullish sentiment. It seems that the CEMI stock is rising without any obvious reason. However, it has been noticed that the stock became red at some points in the pre-market session today.

    CEMI stock’s Upcoming Financial Results:

    Chembio Diagnostics, Inc on July 23, 2021, announced the release date of its second-quarter 2021 financial results which is August 5, 2021. CEMI stock will announce financial results after the closing of trading on the above-mentioned date.

    CEMI stock’s first-quarter financial results:

    In the first quarter 2021 financial results, the CEMI stock generated $8.7 million revenue which was 27% higher than the same period of the prior year.Net products sales were declined 30% to drop at $4.0 million and the gross product margin was $0.5 million in the first quarter of 2021.

    The CEMI stock spent 46% higher research and development expenses in the first quarter of 2021 as compared to the same tenure of the previous year. Selling general and administrative expenses were increased by 46% or $1.9 million in the first three months of 2021.

    Net loss for the Chembio stock was $4.5 million as compared to $5.0 million in the prior-year period. As of March 31, 2021, cash and cash equivalents were totaled $14.4 million.

    COVID Diagnostic Test Order:

    On July 20, 2021, Chembio Diagnostics received a purchase order worth $28.3 million from Bio-Manguinhos. The order was related to Chembio’s DPP SARS-CoV-2 Antigen tests that use the nasal swab for detecting COVID-19 pathogen in only 20 minutes. As a result of this order, the shares of Chembio were doubled at that time.

    Conclusion:

    The CEMI stock was green in the pre-market trading session despite no specific news related to it on today’s date. The revenue of the first quarter was higher as compared to previous year same period. The upcoming financial results in august will further explain the position of this stock.

  • 15 Trending Stocks To Watch In Diagnostics And Research Industry

    15 Trending Stocks To Watch In Diagnostics And Research Industry

    The Diagnostic Research Industry is playing an integral part in the medical evaluation and treatment of patients.  This industry is vital to the healthcare market as it is providing information related to the severity and causes of illnesses in patients to healthcare practitioners. The changes we are witnessing in today’s healthcare industry are setting the goal for evolution we will see over the next decade.

    There are major drivers that are changing and will change the direction of this industry in present and future as well. The first driver is technology. As time passes by, new technologies are emerging and playing a very important role in the healthcare industry. In today’s world, patients want easier access to care and demand better service. The demand for this industry is linked to the number of patients receiving the treatment. The profitability and growth of the company depend on good marketing and efficient operations.

    Let check these 15 companies in Diagnostic Research Industry to know more about this industry and the trends this industry is following:

    Interpace Biosciences Inc. (NASDAQ: IDXG)

    Interpace Biosciences Inc. (NASDAQ: IDXG) shares were trading up 32.89% at $3.96 at the time of writing on Wednesday. Interpace Biosciences Inc. (NASDAQ: IDXG) share price went from a low point around $2.57 to briefly over $11.00 in the past 52 weeks, though shares have since pulled back to $3.96. IDXG market cap has remained high, hitting $15.88M at the time of writing, giving it a price-to-sales ratio of more than 0.

    Interpace Biosciences Inc. (NASDAQ: IDXG) has announced that the Audit Committee has disclosed the result of an independent investigation. The committee has completed the investigation with the statement that the allegations made in the complaints were unverified and there is no truth behind them. investigation and If we look at the recent analyst rating IDXG, Janney initiated coverage on IDXG shares with a Buy rating.

    OPKO Health Inc. (NASDAQ: OPK)

    OPKO Health Inc. (NASDAQ: OPK) last closed at $4.07, in a 52-week range of $1.12 to $6.47. Analysts have a consensus price target of $8.00. OPKO Health Inc. (OPK) disclosed it plans to report operating and financial results for the three months ended September 30, 2020, as well as discuss financial guidance, after the close of the U.S. financial markets on Thursday, October 29, 2020.

    Invitae Corporation (NYSE: NVTA)

    Invitae Corporation (NYSE: NVTA) stock drop by -6.29% to $49.28. The most recent rating by JP Morgan, on October 14, 2020, is at a Neutral. Invitae Corporation (NVTA) disclosed that on October 2, 2020, it has executed the transaction to bring ArcherDX into Invitae to create a comprehensive offering that provides testing services for disease risk, therapy optimization, and personalized cancer monitoring to enable precision approaches to cancer treatment.

    Pacific Biosciences of California Inc. (NASDAQ: PACB)

    Pacific Biosciences of California Inc. (NASDAQ: PACB) shares headed rising, higher as much as 0.07%. The most recent rating by JP Morgan, on October 02, 2020, is at an Overweight. Pacific Biosciences of California Inc. (PACB) has disclosed that collaborated with Children’s Mercy Kansas City to further understand the most challenging pediatric diseases. The companies will join forces to sequence a statistically significant cohort of rare disease cases for which previous whole-genome and whole-exome sequencing studies yielded no answers.

    Bionano Genomics Inc. (NASDAQ: BNGO)

    Bionano Genomics Inc. (NASDAQ: BNGO) fall -0.15% after losing more than $0.0 on Wednesday. Bionano Genomics Inc. (BNGO) revealed today that it is scheduled to release financial results of the third quarter ended September  30, 2020, on November 12, 2020. The company will also hold the conference call on the same day.

    T2 Biosystems Inc. (NASDAQ: TTOO)

    T2 Biosystems Inc. (NASDAQ: TTOO) stock drop by 0.00% to $1.33 after T2 Biosystems to Report Third Quarter 2020 Financial Results on November 4, 2020. The most recent rating by BTIG Research, on October 08, 2020, is at a Buy.  T2 Biosystems Inc. (TTOO) market capitalization has remained high, hitting $196.79 million at the time of writing.

    NeoGenomics Inc. (NASDAQ: NEO)

    NeoGenomics Inc. (NASDAQ: NEO) Shares headed rising, higher as much as 5.46%. The most recent rating by Morgan Stanley, on September 09, 2020, is at an Overweight. NeoGenomics Inc. (NEO) revealed its plans to open a state-of-the-art research laboratory in China in association with the new lab PPD, Inc. (NASDAQ: PPD) is opening in Suzhou.

    PerkinElmer Inc. (NYSE: PKI)

    PerkinElmer Inc. (NYSE: PKI) fall -2.10% after losing more than -$2.62 on Wednesday. PerkinElmer Inc. (PKI) earlier announced that it is expected to report organic revenue growth of approximately 35% and 33%, respectively, for the third quarter ended October 4, 2020.

    Chembio Diagnostics Inc. (NASDAQ: CEMI)

    Chembio Diagnostics Inc. (NASDAQ: CEMI) last closed at $4.77, in a 52-week range of $2.25 to $15.89. Analysts have a consensus price target of $5.00. Chembio Diagnostics Inc. (CEMI) disclosed earlier that the U.S. Food and Drug Administration (FDA) has approved the Premarket Approval (PMA) application for the DPP HIV-Syphilis System.

    Illumina Inc. (NASDAQ: ILMN)

    Illumina Inc. (NASDAQ: ILMN) Shares headed falling, lower as much as -4.35%. The most recent rating by Guggenheim, on October 13, 2020, is at a Neutral. Illumina Inc. (ILMN) has earlier announced that it is scheduled to release the third quarter 2020 following the close of the market on Thursday, October 29, 2020.

    Enzo Biochem Inc. (NYSE: ENZ)

    Enzo Biochem Inc. (NYSE: ENZ) fall -17.24% after losing more than -$0.45 on Wednesday. Enzo Biochem Inc. (ENZ) earlier reported financial results for the fourth quarter and full-year ended July 31, 2020, and provided a business update on recent corporate and operational developments.

    Fulgent Genetics Inc. (NASDAQ: FLGT)

    Fulgent Genetics Inc. (NASDAQ: FLGT) last closed at $38.17, in a 52-week range of $6.70 to $52.47. Analysts have a consensus price target of $56.25. Fulgent Genetics Inc. (FLGT) disclosed earlier that the Ohio Department of Rehabilitation and Correction (“ODRC”) has selected Fulgent Genetics for their COVID-19 testing needs.

    QIAGEN N.V. (NYSE: QGEN)

    QIAGEN N.V. (NYSE: QGEN) stock drop by -0.11% to $52.37. The most recent rating by BofA Securities, on October 06, 2020, is at a Buy. QIAGEN N.V. (QGEN) earlier announced preliminary sales and adjusted earnings per share (EPS) results for the third quarter of 2020. It has shared that the Net sales grew 26% at actual rates, and also rose 26% at constant exchange rates (CER) $481.3 million from $382.7 million in the same period of 2019.

    Fluidigm Corporation (NASDAQ: FLDM)

    Fluidigm Corporation (NASDAQ: FLDM) last closed at $6.89, in a 52-week range of $1.17 to $12.45. Fluidigm Corporation (FLDM) has moved up 488.03% from its 52-weeks low and moved down -44.74% from its 52-weeks high. Looking at its liquidity, it has a current ratio of $509.65 million at the time of writing.

    Danaher Corporation (NYSE: DHR)

    Danaher Corporation (NYSE: DHR) stock soar by 0.41% to $226.55. The most recent rating by Wolfe Research, on June 16, 2020, is at an Outperform. Danaher Corporation (DHR) share price went from a low point around $119.60 to briefly over $227.48 in the past 52 weeks, though shares have since pulled back to $222.59. DHR  market cap has remained high, hitting $156.91 billion at the time of writing.