Maxim Group analyst Anthony Vendetti has reiterated their bullish stance on BHST stock, giving a Buy rating on November 11.
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Anthony Vendetti has given his Buy rating due to a combination of factors that highlight BioHarvest Sciences’ potential for growth and innovation. The company has shown consistent execution in expanding its direct-to-consumer (DTC) nutraceutical and contract development and manufacturing organization (CDMO) businesses, with the core VINIA brand driving topline growth. New product launches, such as sports chews and VINIA-infused coffee, along with an upcoming hydration product line, are expected to further bolster revenue.
Additionally, BioHarvest Sciences has made significant strides in its CDMO segment by entering into a new agreement with Saffron Tech, which includes a 25% ownership stake in the developed compound. This partnership, along with progress in existing agreements, is anticipated to sustain momentum in the CDMO pipeline. Despite lowering the price target due to revised estimates and recent dilution, Vendetti remains optimistic about the company’s innovative Botanical Synthesis technology and its robust market opportunities, justifying the Buy rating.