Biosensors International Group, a Singapore-based maker of drug-coated stents that treat blocked arteries, surged after Nomura Holdings Inc. recommended investors “buy” the stock.
The stock advanced 5.7% to 64.5 cents as 11:49 a.m. in Singapore, the sharpest since Aug. 13. Biosensors climbed 113% this year, compared with 54% rise for the benchmark Straits Times Index.
“Biosensors is at an earnings inflexion point, coming out of its start-up phase and now generating sustainable profitability,” Nomura analyst Jit Soon Lim wrote in a note today. “We see promising earnings outlook driven by market- share gains in Europe and Asia.”
The brokerage set a share-price target of $1.06 for Biosensors.
