Barrington analyst Gary Prestopino has maintained their bullish stance on PAYS stock, giving a Buy rating on June 26.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Gary Prestopino has given his Buy rating due to a combination of factors that highlight PaySign’s strategic positioning and growth potential in the pharmaceutical industry. PaySign’s Patient Affordability segment offers a specialized solution that helps reduce patients’ out-of-pocket costs for prescription drugs, which is funded by pharmaceutical companies. This service is crucial as it provides payment claims processing and administrative services, allowing drug manufacturers to gain valuable insights into their affordability programs through data analytics.
Additionally, PaySign’s role as a PA vendor is pivotal in the patient affordability program, working alongside pharmaceutical companies, claims processors, and pharmacies. Despite not influencing contracted rates with pharmacies, PaySign has a unique position in the contract flow, offering transparency in financial transactions. The company’s focus on innovative prepaid card programs and processing services further strengthens its market presence, making it a compelling investment opportunity according to Prestopino.
According to TipRanks, Prestopino is a 5-star analyst with an average return of 13.6% and a 54.18% success rate. Prestopino covers the Consumer Cyclical sector, focusing on stocks such as Liquidity Services, Dorman Products, and OPENLANE.
In another report released on June 26, Lake Street also reiterated a Buy rating on the stock with a $9.00 price target.