ProPhase Labs making progress on multiple fronts, says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating and $15 price target on ProPhase Labs. The company’s Q4 revenue beat the firm’s estimate, though net loss was lower than forecast primarily due to a one-time year-end charge of $5.9M related to bad debt write-offs, the analyst tells investors in a research note. The company is making progress on multiple fronts to help offset Covid testing revenue loss in the coming quarters, which may help drive long-term growth going forward, H.C. Wainwright says.