logo-loader
viewDyadic International Inc

Noble Research repeats Outperform rating and $9 target on Dyadic following third quarter results

“In our opinion, the current stock price, despite recent gains, does not reflect the value of DYAI's portfolio," Noble said

Dyadic at the Nasdaq
Dyadic leverages its proprietary C1 technology to help bring biologic vaccines, enzymes, proteins, biosimilars, and drugs to market faster and at a lower cost

Noble Capital Markets repeated an Outperform rating and $9 price target on Dyadic International Inc (NASDAQ:DYAI), following the release of its third quarter results on Wednesday.

“Dyadic continues to follow its business model by establishing research collaboration with large pharmaceuticals, institutions and biotechnology firms to validate C1 [gene expression] technology in biologics for human and animal health, in addition to the company's own in-house efforts,” Noble said in an analyste note published Friday.

The firm added: “Management continues to maintain costs in check with low cash-burn, while increasing the probability of success of C1 technology's potential in biologics market. The company recently added animal health segment via partnerships to its current portfolio of human biotherapeutics including vaccines, biosimilars, metabolites, and viral vectors.”

READ: Dyadic International flexes growing R&D revenue, robust cash position in 3Q results

On Wednesday, the company reported R&D revenue of $454,507, R&D expenses of $102,000, general and administrative expenses of nearly $1.1 million and a net loss of $0.06 per share, figures Noble said “are in-line with our estimates.”

Going forward, the company is maintaining its revenue and earnings per share forecasts of $1.5 million with a $0.31 per share loss in 2019, $1.6 million with a $0.37 per share loss in 2020 and $1.7 million with a $0.39 loss in 2021.

“We continue to believe in C1 technology's potential, especially given the multiple projects underway in major segments of biologics market,” Noble said. “The stock has risen 206% [year to date} driven by recent positive developments. We think various partnerships and collaborations, in addition to in-house efforts, will generate data proving C1 expression system's value in biologics market, which is expected to grow to $1.2 billion in sales in 2022.”

The firm concluded: “In our opinion, the current stock price, despite recent gains, does not reflect the value of DYAI's portfolio. We are reiterating our Outperform rating and $9.00 price target.”

Dyadic, based in Jupiter, Florida, leverages its proprietary C1 technology — an industrially proven fungal gene expression technology — to help bring biologic vaccines, enzymes, proteins, biosimilars, and drugs to market faster and at a lower cost.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Dyadic International Inc

Price: 5.95 USD

NASDAQ:DYAI
Market: NASDAQ
Market Cap: $161.92 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Dyadic International Inc named herein, including the promotion by the Company of Dyadic International Inc in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Dyadic touts recent collaborations, 3Q highlights at Jefferies London...

Dyadic International Inc (NASDAQ:DYAI) CEO Mark Emalfarb and CCO Matthew Jones tell Proactive's Andrew Scott the duo are in London for the Jefferies London Healthcare Conference, the biotech's third year attending.  Emalfarb and Jones say the Florida-based biotech is touting its recent...

2 weeks, 4 days ago

2 min read