Aegis Capital Corp. has initiated coverage with a ‘Buy’ rating and price target of $25 on shares of DarioHealth’s (NASDAQ: DRIO) stock. DRIO is a pioneer in the global digital therapeutics (“DTx”) industry with its popular, smartphone-centered personalized chronic illness management software-as-a-service (SaaS). The report reads, “We initiate coverage on DRIO with a BUY rating and $25 PT based on a 5.6x EV/Sales multiple applied to FY:21E sales of $11.4mm, a discount to the est. peer average of 8.1x. We believe this multiple is warranted thanks to the growth prospects and quality of the product offering, underpinned by published efficacy data, with a modest discount for conservatism. At 6/30, Dario had $13.2mm of cash, and on 7/31, a further $28.6mm in gross proceeds were raised through a private placement.”
For more information about the company, visit www.DarioHealth.InvestorRoom.com.
About DarioHealth Corp.
DarioHealth Corp. is a leading, global digital therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, the company empowers individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. Dario’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario is one of the highest-rated diabetes solutions in the market, and its user-centric MyDario(TM) mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new chronic conditions and geographic markets, using a performance-based approach to improve the health of users managing chronic disease.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
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