Piper Sandler slashes price target on Talis Biomedical Corporation [TLIS] – find out why.

Talis Biomedical Corporation [NASDAQ: TLIS] stock went on an upward path that rose over 15.91% on Wednesday, amounting to a one-week price decrease of less than -4.83%. The company report on March 8, 2021 that Talis Provides Update on Regulatory Pathway for Emergency Use Authorization (EUA) of its Talis One™ COVID-19 Test.

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Talis Biomedical Corporation (Nasdaq: TLIS), a company dedicated to developing innovative molecular diagnostic tests for infectious diseases at the point-of-care, announced that it has withdrawn its current application pursuing U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA) for the Talis One™ COVID-19 test in the CLIA moderate setting, in favor of focusing on its planned EUA application in the CLIA waived setting. In late February, the FDA informed the company that it cannot ensure the comparator assay used in the primary study has sufficient sensitivity to support Talis’s EUA application.

Talis intends to initiate its previously planned clinical validation study in a point-of-care environment, with plans to submit an EUA application for the Talis One COVID-19 test in CLIA waived settings early in the second quarter of 2021. The planned clinical validation study was designed with a different comparator assay, which Talis believes will address the FDA’s concerns.

The market cap for the stock reached $384.10 million, with 25.97 million shares outstanding and 25.07 million shares in the current float. Compared to the average trading volume of 531.12K shares, TLIS stock reached a trading volume of 1544131 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Talis Biomedical Corporation [TLIS]:

Piper Sandler have made an estimate for Talis Biomedical Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on March 09, 2021, representing the official price target for Talis Biomedical Corporation stock. Previously, the target price had yet another raise to $18, while BTIG Research analysts kept a Buy rating on TLIS stock.

The Average True Range (ATR) for Talis Biomedical Corporation is set at 2.77, with the Price to Sales ratio for TLIS stock in the period of the last 12 months amounting to 31.48.

TLIS Stock Performance Analysis:

Talis Biomedical Corporation [TLIS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.83.

Insight into Talis Biomedical Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Talis Biomedical Corporation [TLIS] shares currently have an operating margin of -671.34. Talis Biomedical Corporation’s Net Margin is presently recorded at +663.36.

Return on Total Capital for TLIS is now -182.19, given the latest momentum, and Return on Invested Capital for the company is 180.03. Return on Equity for this stock inclined to 180.03, with Return on Assets sitting at 142.18.

Receivables Turnover for the company is 2.09 with a Total Asset Turnover recorded at a value of 0.21.Talis Biomedical Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.70 and a Current Ratio set at 7.70.

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