New York, NY / ACCESSWIRE / April 24, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has initiated coverage on LabStyle Innovations Corp. (OTCQB: DRIO) with a target price of $7.24.
“LabStyle's flagship product is the Dario™ personalized smart meter (Dario™ Blood Glucose Monitoring System). Dario is a mobile, cloud-based, diabetes management solution that includes novel software applications combined with a convenient, ‘all-in-one’, pocket-sized, blood glucose-monitoring device. LabStyle is applying this technology to address the estimated $12bn worldwide market for diabetic self-monitoring of blood glucose market. The combination of a next generation glucometer and revolutionary diabetes management system should enable LabStyle to capture a meaningful share of the diabetes treatment market place. However, the longer term value to LabStyle will come from the “library” of user data that company collects,” remarked Ajay Tandon, CEO of SeeThruEquity. “We initiate coverage on LabStyle with a price target of $7.24 per fully diluted share.”
The report is available here: LabStyle Innovations Initiation Report.
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About LabStyle Innovations Corp.
LabStyle Innovations Corp. develops and commercializes patent-pending technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is the Dario™ Diabetes Management Solution. Dario™ received CE mark certification in September 2013 and began a world rollout in select countries in December 2013. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for the Dario™ smart meter (Dario™ Blood Glucose Monitoring System) in December 2013. LabStyle is pursuing patent applications in multiple areas covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services.
For more information: http://www.mydario.com/ and mydario.investorroom.com.