Abaxis (NASDAQ: ABAX)‘s stock had its “hold” rating reaffirmed by Canaccord Genuity in a research note issued on Friday.
Separately, analysts at JPMorgan Chase & Co. (NYSE: JPM) initiated coverage on shares of Abaxis in a research note to investors on Friday, January 6th. They set a “buy” rating on the stock. Analysts at Feltl & Co. initiated coverage on shares of Abaxis in a research note to investors on Friday, January 6th. They set a “buy” rating on the stock. Also, analysts at Feltl & Co. initiated coverage on shares of Abaxis in a research note to investors on Friday, January 6th. They set a “buy” rating and a $34.25 price target on the stock.
Abaxis, Inc. (Abaxis) develops, manufactures, markets and sells blood analysis systems for use in the human or veterinary patient-care setting to provide clinicians with rapid blood constituent measurements. The Company’s segments include the medical market and the veterinary market. The Company has developed a blood analysis system incorporating all of these criteria into a 5.1 kilogram (11.2 pounds) portable analyzer and a series of menu-specific, multi-test single-use reagent discs. Abaxis markets its blood chemistry analyzers in the medical market and in the veterinary market. The Company markets the blood analysis system in the medical market under the name Piccolo Xpress. It markets the blood analysis system in the veterinary market under the name VetScan VS2. In March 2011, the Company introduced the VetScan Canine Parvovirus Rapid Test Kit, a test for the detection of canine parvovirus antigen in feces.
Abaxis traded down 7.25% on Friday, hitting $27.01. Abaxis has a 1-year low of $19.68 and a 1-year high of $31.69. The stock has a 50-day moving average of $27.8 and a 200-day moving average of $25.9. The company has a market cap of $585.5 million and a price-to-earnings ratio of 52.00.