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Biotech / Medical : Caliper Technologies - CALP

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From: mopgcw1/15/2006 6:34:33 AM
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Barron's:

Caliper Life Sciences - CALP-NNM
Accumulate - Price 6.45 on Jan. 11
by Think Equity
Caliper [recently] preannounced full-year revenue guidance of $86 to $88 million, narrowing its previous revenue guidance between $84 to $90 million and in-line with our revenue estimate of $86 million. Management reiterated it expects Caliper to [show] positive cash flow for this past 4Q....We are not changing our 4Q05 and full-year 2005 earnings-per-share EPS estimates of (5 cents) and (35 cents), respectively (excluding non-cash amortization).

Our outlook for Caliper remains positive. We believe collaborations with Affymetrix (AFFX), Bio-Rad (BIO), as well as the NovaScreen acquisition, should drive greater LabChip adoption.

Our $8 price target is based on a forward price/earnings multiple of 35 times our 2008 EPS estimate discounted back at a 25% rate to year-end 2006.

Tables: New Coverage
Upgrades & DowngradesCALP [develops and commercializes] life-science instruments and related consumables used in the pharmaceutical and biotechnology industries worldwide. It uses liquid handling, automation, and LabChip microfluidics technologies to create products for use in drug discovery and development, genomics and proteomics, and molecular diagnostics.
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