Bank of America Comments on FDA Approval of Bruker Corporation's MALDI Biotyper CA System

In a report published Friday, Bank of America analyst Derik de Bruin reiterated a Buy rating and $25.00 price target on Bruker Corporation (NASDAQ: BRKR).

In the report, Bank of America noted, “On 11/26, BRKR announced that it received 510-k approval for its MALDI Biotyper CA System, a mass spectrometry based platform for the rapid identification and classification of microorganisms (bacteria, yeasts, and fungi), in-line with mgmt's expectation for a 2H13 approval. Of note, the FDA's approval is specifically for the identification of Gram negative bacterial colonies cultured from human specimens. However, BRKR is working on expanding clearance for Gram positive bacteria and fungi identification and plans to file one of these libraries with the FDA in 1H14.”

Bruker Corporation closed on Wednesday at $19.33.