Deutsche Bank Keeps 'Hold' on Biosite
Deutsche Bank keeps hold on Biosite (BSTE ), and cut the price target to $33.
Analyst Bruce Jacobs says he'd hoped a conference call would have better clarified the issue surrounding Biosite's recent revised guidance due to a shortfall of its Triage BNP (b-type natriuretic peptide) blood test. He says he left the call with many questions still unanswered, and with no more confidence in a resolution of the issues. He thinks visibility may come later than anticipated.
While Jacobs expects more data to emerge on an October 28 earnings call, he suspects many remain frustrated with the lack of visibility on Biosite's base business.