Vista Partners announced today that it has updated coverage on PositiveID Corporation (OTCBB: PSID) and revised its twelve month target price to $0.38.
Ross Silver, Principal Analyst at Vista Partners stated, “The Company’s MicroFluidic Systems subsidiary is attempting to secure a portion of the $3.1B Homeland Defense BioWatch pathogen detection contract. The Company is jointly demonstrating its M-BAND device with The Boeing Company and Hamilton Sundstrand at a bioterrorism conference this week.”
Mr. Silver continued, “We believe the Company’s diabetes management products; both FDA approved and under clinical development, could become standards of care. The Company has entered into a partnership with IDEAL LIFE, Inc., a health management leader, to bring iglucose to market. IDEAL LIFE will market iglucose to its large network of customers, including insurance companies, hospitals, and other health care providers. By partnering with IDEAL LIFE, the Company hopes to accelerate market adoption of iglucose. The company anticipates iglucose to be commercially available in the first half of 2012.”
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