CardioGenics Holdings receives 'Outperform' investment rating from Zacks

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Aug 24 2010

Zacks Equity Research initiated research coverage on CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH) with a six-month target price of $1.22 per share.

The 25-page Zacks report, which gives the company an investment rating of 'Outperform', details CardioGenics' portable QL Care™ Analyzer, initially for emergency room heart attack testing, and its paramagnetic bead supply agreements with Merck-Chimie. The company expects to file for FDA 510K approval of its portable QL Care™ Analyzer in 1Q 2011. The Zacks report discusses the market potential of the QL Care™ Analyzer and the broad range of immunoassay tests it will be capable of performing, as well as the market potential for the company's proprietary paramagnetic beads.

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CardioGenics Holdings Inc.

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