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OSUR

OraSure

$8.44

-0.49 (-5.49%)

06:02
11/29/16
11/29
06:02
11/29/16
06:02

OraSure to implement $18M product supply contract from foreign government

OraSure Technologies announced that it will begin fulfilling a contract to supply a foreign government with $18M of product, primarily to support a nationwide hepatitis C testing and treatment program with the goal of eliminating HCV infection across the country by 2020. The contract calls for the purchase of $16M of OraQuick HCV Rapid Antibody Tests and $2M of OraQuick Rapid HIV-1/2 Antibody Tests. This represents the largest supply contract for OraQuick rapid tests in the company's history. The contract provides for product deliveries over a 12-month period beginning in 2016 and continuing through late 2017. The Company expects to recognize revenue over the next several quarters as follows: Q4 2016 - $1.4M; Q1 2017 - $3M; Q2 2017 - $4.8M; Q3 2017 - $7.6M; and Q4 2017 - $1.2M. Approximately 90% of these revenues are for the OraQuick HCV test with the balance being for the OraQuick HIV test. The contract also includes an option for 2017/2018 under which the government may make an additional purchase of up to 100 percent of the original quantities of product on the same terms and conditions as provided in the contract.

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OSUR OraSure
$8.44

-0.49 (-5.49%)

06/13/16
RAJA
06/13/16
DOWNGRADE
RAJA
Market Perform
OraSure downgraded to Market Perform from Outperform at Raymond James
Raymond James analyst Nicholas Jansen downgraded OraSure to Market Perform citing year-to-date share outperformance and limited visibility into meaning 2H 2016 revenue upside.
07/01/16
MZHO
07/01/16
NO CHANGE
Target $8
MZHO
Buy
OraSure, AbbVie HVC agreement termination not a negative, says Mizuho
Mizuho analyst Eric Criscuolo believes the termination of OraSure's (OSUR) HCV co-promotion agreement with AbbVie (ABBV) is less a negative than may appear. The analyst does not forecast a negative impact to product sales, and sees the $12M per year in exclusivity revenue from 2017-2019 that goes away as the biggest downside since the deal never had the positive impact that was expected. Furthermore, expenses will fall and OraSure's HCV control will increase, Criscuolo tells investors in a research note, adding that a "potentially lucrative" international HCV contract and additional molecular customers make him positive on growth drivers. He reiterates a Buy rating and $8 price target on OraSure's shares.
08/29/16
SPHN
08/29/16
UPGRADE
Target $11
SPHN
Overweight
OraSure upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Drew Jones upgraded OraSure to Overweight from Equal Weight and raised his price target on the stock to $11 from $7.50, citing the potential for an acceleration in its product revenue growth.
09/19/16
BTIG
09/19/16
DOWNGRADE
BTIG
Neutral
OraSure downgraded to Neutral from Buy at BTIG
BTIG analyst Karen Koski downgraded OraSure to Neutral as shares exceeded its prior price target of $8 and said higher expectations are now built into shares.

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