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BIOS

BioScrip

$3.08

0.005 (0.16%)

17:02
08/13/19
08/13
17:02
08/13/19
17:02

Option Care Health receives anticipated Nasdaq notice

Option Care Health announced that on August 7, 2019, it received a letter from the Nasdaq Staff informing it that, since the merger between Option Care Enterprises, Inc. and BioScrip, Inc. constituted a change of control for purposes of the Nasdaq Listing Rules, Option Care was required to meet all applicable criteria for initial listing on The Nasdaq Global Select Market. The letter indicated that, since Option Care did not satisfy the minimum $4.00 bid price requirement upon consummation of the merger, Option Care's securities were subject to delisting unless it requests a hearing before the Nasdaq appeals panel, which will allow Option Care to remain listed pending the outcome of the hearing. As part of its preparations for the merger, Option Care anticipated receiving the Staff's letter and plans to request a hearing before the appeals panel, which will allow Option Care to continue to remain listed on Nasdaq until the issuance of the panel's decision. Option Care plans to take all reasonable actions to demonstrate compliance with the applicable Nasdaq Listing Rules so as to maintain its listing on Nasdaq and/or apply to list its securities on the NYSE American exchange where it believes it would satisfy all of the applicable initial listing criteria, including the price requirement for listing on that exchange.

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BIOS BioScrip
$3.08

0.005 (0.16%)

03/18/19
03/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Facebook (FB) downgraded to Hold from Buy at Needham with analyst Laura Martin citing three factors that she sees creating a "negative network effect," namely its strategic pivot toward privacy and encrypted messages, the growing risks of regulation and "horrific" events like those recently in New Zealand that hurt Facebook's brand and are difficult to block from the service at a 100% level. 2. Quest Diagnostics (DGX) downgraded to Neutral from Outperform at Credit Suisse. 3. Aramark (ARMK) downgraded to Neutral from Buy at Nomura Instinet with analyst Dan Dolev saying while the company's "significant scale" in North America should drive consistent 5%-plus organic growth, "execution mishaps and inability to win sufficient new business" resulted in just 2%-3% organic growth versus 7%-8% for main competitor Compass. 4. BioScrip (BIOS) downgraded to Equal Weight from Overweight at Stephens with analyst Dana Hambly saying the company "surprised the market" by announcing a merger with Option Care. 5. PVH Corp. (PVH) assumed with a Neutral from Buy at Citi with analyst Paul Lejuez saying while PVH has two brands with good global growth potential in Tommy Hilfiger and Calvin Klein, the company overall is still heavily dependent on the North America wholesale and outlet channels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/18/19
ADAM
03/18/19
NO CHANGE
Target $3.5
ADAM
Buy
Canaccord, while disappointed with merger terms, remains buyer of BioScrip
Canaccord Genuity analyst Richard Close lowered his price target for BioScrip to $3.50 from $5.00 while reiterating a Buy rating on the shares. While disappointed with the terms of the Option Care merger agreement as BioScrip shareholders are just 20% shareholders post-transaction, the analyst says he understands the rationale for the merger. The need for scale in healthcare is "increasingly paramount as the provider and payer markets consolidate and reimbursement risk is always present," Close tells investors in a research note titled "Merger: short-term pain but long-term." Longer-term scale matters and the transaction provides an improved capital structure, says the analyst. He remains a buyer of BioScrip shares.
07/15/19
LSCM
07/15/19
NO CHANGE
Target $4.5
LSCM
Buy
CMS funding potential 'meaningful positive' for BioScrip, says Lake Street
The Centers for Medicare & Medicaid Services last week included in its budget proposal funding for the new Medicare home infusion benefit for 2021, Lake Street analyst Brooks O'Neil tells investors in a research note. The Cures Act in 2016 created the benefit for all eligible seniors, and now CMS is acknowledging it exists and providing funding for it in the Medicare budget, adds the analyst. He believes this is a potentially "meaningful positive" for BioScrip as Medicare currently does not reimburse for home infusion services and the senior population will likely become a heavy user of such services. O'Neil affirms a Buy rating on the shares with a $4.50 price target.
08/05/19
LSCM
08/05/19
NO CHANGE
Target $4.5
LSCM
Buy
BioScrip not the acquirer in merger, which is positive, says Lake Street
Lake Street analyst Brooks O'Neil says he learned recently from talking with Option Care CFO Mike Shapiro that Option Care will be deemed the acquirer of BioScrip. The analyst previously thought BioScrip would be the acquirer, and he views this new development as a positive for the shares. BioScrip being added on top of historical Option Care will accelerate revenue growth and margins will go up, O'Neil tells investors in a research note. "Those two things are likely to be well received by investors," says the analyst, who expects this trend for "at least" the first five-to-six quarters post the combination. He affirms a Buy rating on BioScrip with a $4.50 price target.

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