Analysts Lower OraSure Technologies, Inc. (NASDAQ:OSUR) Price Target Following Latest Report

OraSure Technologies, Inc. (NASDAQ:OSUR) shareholders had a rough week as the stock dropped 11% to US$4.86 following the release of the latest quarterly results. The company reported a 439% increase in statutory losses, with earnings per share coming in at -US$0.05. While revenues of US$54m beat expectations by 3.6%, it was not enough to offset the disappointing earnings.

Analysts have updated their forecasts in light of these results, with the consensus now predicting a 38% decline in revenue to US$190.0m in 2024. Earnings are expected to turn negative, with a forecasted loss of -US$0.12 per share in the same year. This has led to a 5.3% decrease in the consensus price target to US$7.15, as analysts express concerns about the company’s ongoing losses.

Despite the pessimism, there is still some diversity in analyst estimates, with price targets ranging from US$6.50 to US$9.00 per share. However, the overall sentiment seems to be leaning towards a more bearish outlook for OraSure Technologies.

Looking ahead, the company is expected to lag behind industry growth estimates, with a forecasted annualized revenue decline of 47% by the end of 2024. This is a significant drop from the 25% annual growth seen over the past five years, indicating a challenging road ahead for the company.

In conclusion, while the latest results have raised concerns among analysts, the long-term trajectory of OraSure Technologies remains uncertain. Investors are advised to closely monitor the company’s performance and consider the potential risks involved in their investment decisions.