UPDATE: Barrington Research Initiates Coverage On BioScrip On Positive Outlook

In a report published Thursday, Barrington Research analyst Michael Petusky initiated coverage on BioScrip Inc (NASDAQ: BIOS) with an Outperform rating and $8.00 price target.

In the report, Barrington Research noted, “According to the Administration on Aging, by the year 2030 the number of individuals over the age of 60 will represent approximately 25% of the U.S. population, up from 18.4% in 2010. In that same time period, the number of Americans with chronic disease will grow to 171 million from 141 million. Both of these trends will help fuel demand for home infusion services. In addition, we believe that home infusion therapy is a win-win-win for patients, physicians, and payers. Patients like the convenience, physicians like the coordination of care and positive health outcomes, and payers like the material cost savings that is generated by at home therapy when compared to inpatient.”

BioScrip closed on Wednesday at $5.77.