Brokerages Anticipate Applied DNA Sciences, Inc. (NASDAQ:APDN) Will Post Quarterly Sales of $4.20 Million

Brokerages forecast that Applied DNA Sciences, Inc. (NASDAQ:APDNGet Rating) will report $4.20 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Applied DNA Sciences’ earnings, with the highest sales estimate coming in at $4.80 million and the lowest estimate coming in at $3.60 million. Applied DNA Sciences reported sales of $1.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 147.1%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Applied DNA Sciences will report full year sales of $17.59 million for the current fiscal year, with estimates ranging from $16.50 million to $18.67 million. For the next fiscal year, analysts anticipate that the company will post sales of $16.12 million, with estimates ranging from $9.70 million to $22.53 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Applied DNA Sciences.

APDN has been the subject of a number of analyst reports. Maxim Group dropped their price objective on shares of Applied DNA Sciences from $18.00 to $6.00 in a report on Monday, February 14th. HC Wainwright dropped their price objective on shares of Applied DNA Sciences from $6.00 to $4.00 and set a “na” rating for the company in a report on Monday, May 16th. Finally, Zacks Investment Research raised shares of Applied DNA Sciences from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Thursday.

A number of hedge funds have recently made changes to their positions in APDN. Virtu Financial LLC purchased a new position in Applied DNA Sciences during the first quarter worth about $49,000. State Street Corp boosted its stake in shares of Applied DNA Sciences by 53.6% in the first quarter. State Street Corp now owns 26,977 shares of the technology company’s stock valued at $58,000 after purchasing an additional 9,416 shares during the period. Atria Wealth Solutions Inc. purchased a new position in shares of Applied DNA Sciences in the first quarter valued at approximately $67,000. Citadel Advisors LLC purchased a new position in shares of Applied DNA Sciences in the second quarter valued at approximately $85,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Applied DNA Sciences by 31.4% in the third quarter. Dimensional Fund Advisors LP now owns 19,334 shares of the technology company’s stock valued at $104,000 after purchasing an additional 4,616 shares during the period. 8.24% of the stock is owned by institutional investors.

Shares of APDN opened at $1.27 on Friday. Applied DNA Sciences has a 12-month low of $1.08 and a 12-month high of $8.10. The firm has a 50-day moving average price of $1.82 and a 200 day moving average price of $3.27. The firm has a market capitalization of $9.51 million, a P/E ratio of -0.66 and a beta of 1.10.

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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