Lucira’s COVID-19 Self-Test Now Available On Amazon; Shares Rise 38%

Shares of Lucira Health (LHDX) opened around 38% higher today after the medical technology company announced that its COVID-19 test kit is accessible on Amazon.com. The test kit provides a Read More... The post Lucira’s COVID-19 Self-Test Now Available On Amazon; Shares Rise 38% appeared first on TipRanks Financial Blog.

Lucira’s COVID-19 Self-Test Now Available On Amazon; Shares Rise 38%

Shares of Lucira Health () opened around 38% higher today after the medical technology company announced that its COVID-19 test kit is accessible on Amazon.com.

The test kit provides a PCR-quality test result in less than 30 minutes, from the comfort of one's home. Furthermore, users of the test can receive a free, text-based test result on their phones which can be used for work or travel.

Lucira Health CEO Erik Engelson said, “We are excited to offer the first at-home COVID-19 self-test to provide an on-the-spot result with molecular accuracy available to millions of U.S. customers on Amazon.” (See Lucira Health stock analysis on TipRanks)

The test kit is also available over the counter in the U.S.

While the laboratory tests that are currently available take between 2 and 14 days to generate results, Lucira’s test kits provided results in less than 2 minutes to all of its clinical trial participants.

Last month, Bank of America analyst Derik De Bruin downgraded the stock to Sell from Buy with a $9 price target (38.5% upside potential).

De Bruin pointed out that the demand for at-home testing for COVID-19 has dwindled, owing to the availability of multiple vaccines.

LifeSci Capital analyst David Sherman, on the other hand, reiterated a Buy rating on the stock with a $29 price target (346.2% upside potential).

Consensus on the Street is that Lucira Health is a Hold, based on 1 Buy, 1 Hold, and 1 Sell. The average analyst price target of $19 implies 192.3% potential upside.

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The post Lucira’s COVID-19 Self-Test Now Available On Amazon; Shares Rise 38% appeared first on TipRanks Financial Blog.

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Dye & Durham Posts 300% Revenue Growth In 3Q: Shares Jump 6%

Shares of Dye & Durham (DND) rose as much as 6% in early trading Wednesday after the provider of cloud-based software and technology solutions for legal and business professionals announced Read More... The post Dye & Durham Posts 300% Revenue Growth In 3Q: Shares Jump 6% appeared first on TipRanks Financial Blog.

Dye & Durham Posts 300% Revenue Growth In 3Q: Shares Jump 6%

Shares of Dye & Durham (DND) rose as much as 6% in early trading Wednesday after the provider of cloud-based software and technology solutions for legal and business professionals announced strong revenue growth in its third quarter.

The company’s revenue for 3Q 2021 came in at C$68.9 million, increasing 300% from the prior-year quarter.

However, the company reported a net loss of C$10.6 million in the quarter ended March 31, worse than the net loss of C$1.3 million for the same quarter in fiscal 2020. Financial costs related to recent financings are mainly responsible for the rise in the net loss. Adjusted EBITDA amounted to C$37.6 million in 3Q 2021, up 267% from C$10.3 million in 3Q 2020.

Dye & Durham ended the quarter with access to over C$1 billion of capital which will be used to execute its strategy of growth through acquisitions.

Dye & Durham’s CEO Matt Proud said, "The Company's strong financial performance and growth in the third quarter demonstrate our ability to successfully execute on our acquisition strategy. During the quarter we made significant progress on integration and realizing synergies from recent acquisitions, which we expect will continue to drive even stronger financial results in the current quarter."(See Dye & Durham stock analysis on TipRanks.)

Last week, CIBC analyst Stephanie Price started coverage of DND with a Hold rating and a C$47.00 price target (17.5% upside potential).

The rest of the Street is cautiously optimistic on DND with a Moderate Buy consensus rating based on 2 Buys and 1 Hold. The average analyst price target of C$55.00 implies a 37.5% upside potential from current levels. Shares have increased by 85% over the past six months.

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The post Dye & Durham Posts 300% Revenue Growth In 3Q: Shares Jump 6% appeared first on TipRanks Financial Blog.

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