Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.
Biosensors said its net profit for the first quarter ended June jumped seven-fold to US$22.6 million ($27.2 million) from US$3.2 million a year ago, helped by higher revenue from licensing and royalties.
Company Name: BIOSENSORS INT'L GROUP, LTD.
| Research House: OCBC | Price Call: BUY | Target Price: 1.68 |
Shares of Singapore medical technology firm Biosensors Group (BIOS.SI) rose as much as 2% to a two-week high after it reported quarterly earnings that beat expectations, bucking the fall in the broader market.
At 9:52 a.m., shares of Biosensors were 1.5% higher at $1.355 with over 7 million shares changing hands.
At 9:52 a.m., shares of Biosensors were 1.5% higher at $1.355 with over 7 million shares changing hands.
Biosensors said its net profit for the first quarter ended June jumped seven-fold to US$22.6 million ($27.2 million) from US$3.2 million a year ago, helped by higher revenue from licensing and royalties.
OCBC said Biosensor’s results exceeded its expectations, and “a better product mix and increased economies of scale in manufacturing also helped to boost its margins.”
The brokerage also raised its target price to $1.68 from $1.60, and kept its buy rating.
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