NetworkNewsBreaks – Aegis Capital Corp. Initiate
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Posted On: 08/17/2020 3:11:25 PM
NetworkNewsBreaks – Aegis Capital Corp. Initiates Coverage, Issues ‘Buy’ Rating on DarioHealth Corp. (NASDAQ: DRIO)
Aegis Capital Corp. has initiated coverage with a ‘Buy’ rating and price target of $25 on shares of DarioHealth’s (NASDAQ: DRIO) stock. DRIO is a pioneer in the global digital therapeutics (“DTx”) industry with its popular, smartphone-centered personalized chronic illness management software-as-a-service (SaaS). The report reads, “We initiate coverage on DRIO with a BUY rating and $25 PT based on a 5.6x EV/Sales multiple applied to FY:21E sales of $11.4mm, a discount to the est. peer average of 8.1x. We believe this multiple is warranted thanks to the growth prospects and quality of the product offering, underpinned by published efficacy data, with a modest discount for conservatism. At 6/30, Dario had $13.2mm of cash, and on 7/31, a further $28.6mm in gross proceeds were raised through a private placement.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Aegis Capital Corp. has initiated coverage with a ‘Buy’ rating and price target of $25 on shares of DarioHealth’s (NASDAQ: DRIO) stock. DRIO is a pioneer in the global digital therapeutics (“DTx”) industry with its popular, smartphone-centered personalized chronic illness management software-as-a-service (SaaS). The report reads, “We initiate coverage on DRIO with a BUY rating and $25 PT based on a 5.6x EV/Sales multiple applied to FY:21E sales of $11.4mm, a discount to the est. peer average of 8.1x. We believe this multiple is warranted thanks to the growth prospects and quality of the product offering, underpinned by published efficacy data, with a modest discount for conservatism. At 6/30, Dario had $13.2mm of cash, and on 7/31, a further $28.6mm in gross proceeds were raised through a private placement.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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