Hemosense "buy," target price raised

05/03/07 - Lazard Capital Markets

NEW YORK, May 3 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on Hemosense Inc (HEM), while raising their estimates for the company. The target price has been raised from $9 to $12.

In a research note published this morning, the analysts mention that the company has reported its F2Q07 revenues significantly ahead of and loss per share marginally lower than the estimates. Hemosense’s results were boosted by the FDA’s decision to designate warfarin, a blood thinning agent whose effect is tested by one of the company’s products, as a black box, the analysts say. The upward revision in the target price reflects a shift in the base year, Lazard Capital adds. The EPS estimates for 2007 and 2008 have been raised from -$0.48 to -$0.46 and from $0.27 to $0.31, respectively.