Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today announced it has attained the CE Marking for its DPP COVID-19 System. The CE Marking represents the ability to commercialize the system within the member states of the European Union and the Caribbean region, except for Puerto Rico. “The CE Marking is another significant accomplishment for Chembio and expands the market opportunity for our DPP COVID-19 rapid serological test meaningfully,” stated Rick Eberly, Chembio’s Chief Executive Officer.

There are still unanswered questions about the accuracy of some COVID-19 tests, the prevalence of antibodies among Americans, and whether those antibodies provide the kind of immunity safety net needed to protect people from future infections.

Q1 2020 Chembio Diagnostics Inc Earnings Call

HAUPPAUGE, N.Y., April 08, 2020 -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today announced a.

HAUPPAUGE, N.Y., April 27, 2020 -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, announced today that it.

With a large number of companies hoping to bring a viable COVID-19 test to market, how does one differentiate itself? A nod from the FDA helps.Last week, Chembio Diagnostics’ (CEMI) DPP (Dual Path Platform) COVID-19 serology test was granted emergency use authorization (EUA) by the FDA. The company’s potential to deliver a reliable test has driven impressive gains for the stock in 2020; Chembio’s share price has appreciated by a massive 166% year-to-date.Accordingly, Canaccord Genuity’s Max Masucci reiterated a Buy recommendation on Chembio and bumped up the price target – lifting it from $10 to $12. With CEMI having added 50% over the past week, it has already soared beyond the analyst’s target; the figure reflects downside of 1%. (To watch Masucci’s track record, click here) In a crowded space with over 70 competitors hoping to gain market share, Chembio is only the third to receive emergency use authorization for its serology test. Both other companies, Cellex and Ortho Clinical Diagnostics, are privately held. According to Masucci, the former’s test has reported 93.8% sensitivity and 95.6% specificity, while the latter’s data has not been released.“We have not seen CEMI’s DPP COVID-19 performance data, but we note that CEMI’s DPP HIV ½ assay delivered 99.8% sensitivity and 100% specificity in its WHO evaluation. We are unsure whether CEMI’s DPP COVID-19 test can replicate these same levels of sensitivity/specificity, but in a broader sense, we expect the superior performance to carry over,” said Masucci.With the stakes so high, the importance of the test’s accuracy cannot be overstated. Concerns have been raised regarding the quality of imported tests, which have been repackaged and resold in the US. The 5-star analyst believes the FDA’s decision regarding Chembio’s offering reflects highly on the company, yet its possible impact on the balance sheet is not clear just yet.“We see FDA EUA as a line in the sand between reliable serology tests and the (expected) large number of low performing or dysfunctional tests that may enter the market… We are positive on the announcement, which we think further ‘legitimizes’ CEMI’s COVID-19 revenue opportunity. That said, there is still uncertainty around the level of revenues CEMI may drive from the sale of this test, and we look to learn more in the coming weeks,” Masucci explained.Out on the Street, only one other analyst has thrown the hat in with a view on Chembio’s long-term prospects. The additional Buy rating provides CEMI with a Moderate Buy consensus rating. The average price target is $9.50 and following the recent surge, represents possible downside of 22%. If the stock keeps outperforming, expect readjustments to the analysts’ models shortly. (See Chembio stock analysis on TipRanks)To find good ideas for coronavirus stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

The DPP COVID-19 System is a serological point-of-care test and analyzer that provides numerical readings for both IgM and IgG levels within 15 minutes from a simple finger stick drop of blood. “We are very pleased with the continued progress our teams are making to address the market demands with our DPP COVID-19 serological system,” stated Rick Eberly, Chembio’s Chief Executive Officer. Chembio is a leading point-of-care diagnostics company focused on detecting and diagnosing infectious diseases.

Today's 5 Stock Ideas: * Best Buy (BBY) \- A play on electronic goods delivery/curbside pick up. On Wednesday, Best Buy announced quarter-to-date sales through Mar. 20 were up 4% year over year; sales for the nine-week period ended Apr. 4 were down 5%; sales from Mar. 21 to Apr. 11 were down 30%. * Plantronics (PLT) \- A play on increased sales of enterprise headsets. * DropCar (DCAR) \- A nano-cap, momentum, penny stock play on food delivery. * ToughBuilt (TBLT) \- A play on Amazon storefront sales. The company said Q1 gross sales through Amazon U.S. storefront were $1.2 million, nearly half of the company's Amazon-related sales for eight months in 2019. * Chembio Diagnostics (CEMI) \- A play on coroanvirus testing. First shipments of the company's serological test were released as of Wednesday.See more from Benzinga * Benzinga Pro's Top 5 Stocks To Watch For Thurs., Feb. 27, 2020: MSFT, JCP, APT, BBY, TNXP(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Chembio (CEMI) saw a big move last session, as its shares jumped more than 7% on the day, amid huge volumes.

So-called serologic tests are key in determining who returns to work and when, but Roche CEO Severin Schwan has concerns about many tests' validity.

Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today announced its DPP COVID-19 serological point-of-care test for the detection of IgM and IgG antibodies has been selected for use in a Stony Brook Medicine effort to recruit patients who have recovered from COVID-19 infection. The study is intended to determine if convalescent blood plasma, the plasma from people who have recovered from COVID-19, can help treat hospitalized patients with active COVID-19 infection. In early April, Stony Brook University Hospital received FDA approval to offer convalescent blood plasma treatment to its patients through a randomized, controlled study and is expected to enroll up to 500 patients from the Long Island area.

Chembio Diagnostics, Inc. (Nasdaq: CEMI) (“Chembio”), a leading point-of-care diagnostic company focused on infectious diseases, announced today the closing of its previously announced public offering of 2,619,593 shares of its common stock, which included 281,125 shares issued pursuant to the partial exercise by the underwriters of their option to purchase additional shares, at a public offering price of $11.75 per share for gross proceeds of approximately $30.8 million. All shares of common stock sold in the offering were offered by Chembio. Chembio intends to use the net proceeds from the offering to support the refocus of its business strategy, including the manufacturing and further commercialization of the DPP COVID‑19 System, to expand its sales force to support growth, to increase its manufacturing capacity, and for other general corporate purposes.

Shares in Chembio Diagnostics (CEMI) spiked 8% on Thursday after the company announced that its DPP Covid-19 point-of-care test has been selected for use by Stony Brook Medicine to recruit coronavirus survivors.Stony Brook is carrying out a study to determine if convalescent blood plasma, the plasma from people who have recovered from Covid-19, can help treat hospitalized patients with active Covid-19 infection.The Chembio test is being used to confirm that patients were infected with Covid-19 and now have adequate levels of IgG antibodies to make them eligible to donate convalescent plasma.The company’s patented DPP technology platform, which uses a small drop of blood from the fingertip, provides high-quality, cost-effective results in approximately 15 minutes.“We are pleased that our unique and proprietary DPP technology, which can separately and simultaneously detect and measure IgM and IgG antibodies specific to COVID-19, is the assay of choice for Stony Brook Medicine,” stated Javan Esfandiari, Executive VP and CTO of Chembio.Year-to-date, CEMI stock has soared by an incredible 76% as the company built up to and subsequently launched its coronavirus serological point-of-care test on March 31. Serological tests measure the amount of antibodies or proteins present in the blood when the body is responding to a specific infection.“Recent conversations in COVID-19 Dx have become increasingly focused on serology testing and its ability to surveil disease outbreaks… CEMI is a pure play point-of care company with a proven track record in serology, something that many of its future competitors can’t say” cheers Canaccord Genuity analyst Max Masucci.He notes that CEMI has already received a $4M purchase order for its serology test from a public health organization in Brazil. The analyst reiterated his CEMI buy rating on April 2 while ramping up his price target to $10 from $7 previously. (See Chemio’s stock analysis on TipRanks)Related News: Covid-19: Could Bellerphon Therapeutics’ INOpulse Help Address Hospital Ventilator Shortage? Amazon Begins Building Covid-19 Testing Facility Caterpillar Looking For New $3 Billion Bank Loan More recent articles from Smarter Analyst: * With FDA Approvals in Hand, These 2 Biotech Stocks Are on Wall Street's Radar * AMD Unleashes Budget 3rd Gen Ryzen Processors To Tap Mainstream Gaming Market * These 3 Stocks Are Diamonds in the Rough, Says Top Financial Blogger * Bio-Rad Laboratories Rolls Out Shipping of Coronavirus Antibody Test

Top Ranked Momentum Stocks to Buy for April 17th

Chembio Diagnostics, Inc. (Nasdaq: CEMI) (“Chembio”), a leading point-of-care diagnostic company focused on infectious diseases, announced today the pricing of its previously announced public offering of 2,338,468 shares of its common stock at a public offering price of $11.75 per share for gross proceeds of approximately $27.5 million. In addition, Chembio has granted the underwriters a 30-day option to purchase up to an additional 350,770 shares of common stock at the public offering price less the underwriting discounts and commissions. All shares of common stock to be sold in the offering will be offered by Chembio.

Chembio Diagnostics, Inc. (Nasdaq: CEMI) (“Chembio”), a leading point-of-care diagnostic company focused on infectious diseases, announced today a proposed public offering of an undetermined number of shares of its common stock. All shares of common stock to be sold in the proposed offering will be offered by Chembio. In addition, Chembio expects to grant the underwriters a 30-day option to purchase additional shares, in a number equal to up to 15% of the number of shares of common stock sold in the proposed offering, at the public offering price less the underwriting discounts and commissions.

HAUPPAUGE, N.Y., May 18, 2020 -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today announced it has.

HAUPPAUGE, N.Y., May 04, 2020 -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today reported financial.

Pfizer and BioNTech dosed the first patients in a study of their coronavirus vaccine on Tuesday; shares of both drugmakers rose. Test maker Chembio also popped at the close.

HAUPPAUGE, N.Y., May 26, 2020 -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today announced the.