Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.
Drug-eluting stents have a medicated coating to help prevent the reclogging of arteries after the stents are inserted in angioplasty procedures.
Company Name: BIOSENSORS INT'L GROUP, LTD.
| Research House: Kim Eng | Price Call: BUY | Target Price: 1.49 |
Kim Eng has initiated coverage of Singapore stent maker Biosensors International (BIOS.SI) with a buy rating and a target price of $1.49.
Kim Eng said it expects Biosensors’ earnings per share to multiply at a compound annual growth rate of 63% over the 2012-2014 fiscal years ending March, driven by the firm’s flagship BioMatrix drug-eluting stent.
Kim Eng said it expects Biosensors’ earnings per share to multiply at a compound annual growth rate of 63% over the 2012-2014 fiscal years ending March, driven by the firm’s flagship BioMatrix drug-eluting stent.
Drug-eluting stents have a medicated coating to help prevent the reclogging of arteries after the stents are inserted in angioplasty procedures.
After acquiring the remaining 50% stake in China’s JW Medical Systems, Biosensors can now tap on its strong distribution network to market BioMatrix in the country, Kim Eng said.
The broker also estimates that the licensing fees paid by Japan’s Terumo Corp (4543.T), which uses the BioMatrix technology to produce its Nobori brand stents, will surge from US$17 million ($21.9 million) in 2011 fiscal year to US$66 million in 2012.
At 11:27 a.m., Biosensors shares were up 0.8% at $1.20. The stock has risen around 6% so far this year.
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