Ram Selvaraju, an analyst from H.C. Wainwright, maintained the Buy rating on Balchem. The associated price target was raised to $190.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including Balchem’s strong financial performance and growth potential. The company reported impressive third-quarter results, with revenue surpassing expectations and showing significant year-over-year growth. This performance was largely driven by the Human Nutrition and Health segment, which exceeded revenue forecasts and is expected to continue its robust growth trajectory.
Additionally, Balchem is making strategic investments, such as the development of a new manufacturing facility, which is anticipated to significantly enhance its production capacity. The imposition of anti-dumping duties on Chinese imports by the European Commission is also expected to benefit Balchem’s sales in Europe. Despite some challenges in the comparables universe, Selvaraju remains confident in Balchem’s ability to manage macroeconomic headwinds, leading to a slight increase in the price target to $190, reflecting the company’s strong long-term prospects.
Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Emergent Biosolutions, and Vanda. According to TipRanks, Selvaraju has an average return of 24.3% and a 55.73% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $179.00 price target.