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Biosensors International Group, maker of drug-coated stents used to treat blocked arteries, surged to its highest level in eight months after DBS Group Holdings recommended investors “buy” the stock.
“Biosensors is awaiting approvals for its product to be sold in Japan and China, which has a combined market size of between US$800 million ($1.07 billion) and US$1 billion,” Andy Sim, an analyst at DBS, wrote in a note to clients. “There could be earnings upgrades once these are granted.”
“Biosensors is awaiting approvals for its product to be sold in Japan and China, which has a combined market size of between US$800 million ($1.07 billion) and US$1 billion,” Andy Sim, an analyst at DBS, wrote in a note to clients. “There could be earnings upgrades once these are granted.”
Biosensors advanced 7.7% to 90.5 cents as of 10:25 a.m. in Singapore, heading for its highest close since Jan. 17. DBS, which initiated coverage of Biosensors in a note dated yesterday, set its share-price forecast for the stock at $1.20.
