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HC Wainwright Keeps 'Strong Buy' on Impath


HC Wainwright reiterates strong buy and a $60 target on Impath (IMPH).

Analyst Ronald Opel says Friday's Wall Street Journal article reflected an incomplete, inadequate understanding of what Impath is about. He says the article focused totally on ImPath's diagnostic lab business, which admittedly generated the majority of revenue and profits until now.

However, he says the article didn't talk at all about the company's predictive oncology unit, which is growing rapidly in revenue and should have a very good profitability profile, nor did the article discuss Impath's recently acquired information systems unit, which Opel says will do well. He says as the company solidly moves into these new business areas, there will be a strong impetus in bringing down "days of sales outstanding," or DSOs.


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