Bio-Rad COVID-19 antibody test ‘could be big,’ says Jefferies

Jefferies analyst Brandon Couillard said “the market shrugged off” Bio-Rad’s announcement of the launch of a new blood test to detect COVID-19 antibodies, but he is upbeat about the commercial prospects for such a test that can help identify people who are no longer susceptible to infection and can return to work. Not only could Bio-Rad offer one of the first-to-market test, initial performance data “suggest it could be the best” and he thinks this could be worth greater than $100M of revenues, Couillard tells investors in a note titled “Initial Thoughts on BIO’s COVID-19 Antibody Test: This Could Be Big…” The analyst keeps a Buy rating and $450 price target on Bio-Rad shares.