BioScrip (NASDAQ:BIOS) Given New $4.00 Price Target at Canaccord Genuity

BioScrip (NASDAQ:BIOS) had its price target increased by equities research analysts at Canaccord Genuity from $3.50 to $4.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 36.99% from the stock’s previous close.

BIOS has been the subject of a number of other reports. Zacks Investment Research upgraded shares of BioScrip from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Thursday, June 20th. BidaskClub upgraded shares of BioScrip from a “hold” rating to a “buy” rating in a research report on Thursday, July 18th. Finally, Barrington Research restated a “buy” rating and set a $4.00 price objective on shares of BioScrip in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.70.

NASDAQ BIOS opened at $2.92 on Thursday. BioScrip has a 1-year low of $1.56 and a 1-year high of $4.14. The company has a 50 day simple moving average of $2.67. The firm has a market capitalization of $377.21 million, a P/E ratio of -5.96 and a beta of 0.66.

BioScrip (NASDAQ:BIOS) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $191.52 million for the quarter, compared to the consensus estimate of $185.73 million. As a group, research analysts predict that BioScrip will post -0.28 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in BIOS. Charles Schwab Investment Management Inc. grew its holdings in BioScrip by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 733,779 shares of the company’s stock worth $1,908,000 after acquiring an additional 12,674 shares during the last quarter. Bank of Montreal Can bought a new stake in BioScrip in the 2nd quarter worth $27,000. JPMorgan Chase & Co. grew its holdings in BioScrip by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,469 shares of the company’s stock worth $89,000 after acquiring an additional 3,683 shares during the last quarter. Wells Fargo & Company MN grew its holdings in BioScrip by 121.4% in the 2nd quarter. Wells Fargo & Company MN now owns 761,957 shares of the company’s stock worth $1,981,000 after acquiring an additional 417,806 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in BioScrip in the 2nd quarter worth $2,275,000. Institutional investors and hedge funds own 78.55% of the company’s stock.

About BioScrip

BioScrip, Inc provides infusion and home care management solutions in the United States. It engages in the preparation, delivery, administration, and clinical monitoring of pharmaceutical treatments that are administered to a patient through intravenous, subcutaneous, intramuscular, intra-spinal, and enteral methods.

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