Brokerages Anticipate Applied DNA Sciences, Inc. (NASDAQ:APDN) Will Post Quarterly Sales of $4.65 Million

Equities research analysts forecast that Applied DNA Sciences, Inc. (NASDAQ:APDNGet Rating) will announce sales of $4.65 million for the current quarter, according to Zacks. Two analysts have provided estimates for Applied DNA Sciences’ earnings, with the highest sales estimate coming in at $4.85 million and the lowest estimate coming in at $4.45 million. Applied DNA Sciences posted sales of $2.67 million during the same quarter last year, which suggests a positive year-over-year growth rate of 74.2%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Applied DNA Sciences will report full-year sales of $16.42 million for the current fiscal year, with estimates ranging from $14.16 million to $18.67 million. For the next fiscal year, analysts forecast that the company will post sales of $15.67 million, with estimates ranging from $8.80 million to $22.53 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Applied DNA Sciences.

Applied DNA Sciences (NASDAQ:APDNGet Rating) last released its earnings results on Thursday, February 10th. The technology company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.44). The firm had revenue of $4.17 million for the quarter, compared to the consensus estimate of $4.28 million. Applied DNA Sciences had a negative return on equity of 105.86% and a negative net margin of 123.04%. During the same quarter last year, the company posted ($0.62) EPS.

APDN has been the subject of a number of research reports. Maxim Group lowered their target price on Applied DNA Sciences from $18.00 to $6.00 in a report on Monday, February 14th. HC Wainwright lowered their target price on Applied DNA Sciences from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 11th. Finally, Zacks Investment Research upgraded Applied DNA Sciences from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th.

Several hedge funds and other institutional investors have recently made changes to their positions in APDN. Delta Investment Management LLC grew its holdings in shares of Applied DNA Sciences by 200.0% in the 4th quarter. Delta Investment Management LLC now owns 45,000 shares of the technology company’s stock valued at $181,000 after acquiring an additional 29,998 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Applied DNA Sciences by 122.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,073 shares of the technology company’s stock valued at $173,000 after acquiring an additional 23,739 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Applied DNA Sciences by 27.3% in the 3rd quarter. BlackRock Inc. now owns 76,869 shares of the technology company’s stock valued at $415,000 after acquiring an additional 16,493 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Applied DNA Sciences by 33.0% in the 3rd quarter. Geode Capital Management LLC now owns 53,373 shares of the technology company’s stock valued at $287,000 after acquiring an additional 13,257 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Applied DNA Sciences in the 2nd quarter valued at about $85,000. Institutional investors own 7.44% of the company’s stock.

APDN stock opened at $1.60 on Friday. The stock has a 50-day moving average price of $2.11 and a two-hundred day moving average price of $3.71. The stock has a market cap of $11.98 million, a PE ratio of -0.84 and a beta of 1.00. Applied DNA Sciences has a 1 year low of $1.57 and a 1 year high of $8.10.

About Applied DNA Sciences (Get Rating)

Applied DNA Sciences, Inc develops and markets DNA-based technology solutions for use in the nucleic acid-based in vitro diagnostics and preclinical nucleic-acid based drug development and manufacturing markets; and for supply chain security, anti-counterfeiting, and anti-theft technology purposes. The company's supply chain security and product authentication solutions include SigNature molecular tags that provide forensic power and protection for various applications used to fortify brand protection efforts and strengthen supply chain security, as well as mark, track, and convict criminals; SigNify IF portable DNA readers and SigNify consumable reagent test kits that provide real-time authentication of molecular tags in the field; and CertainT, which indicates the use of tagging, testing, and tracking platforms and solutions enabling manufacturers, brands, and trade organizations to convey proof of their product claims.

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