Analyst Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on Oxford Nanopore Technologies PLC and increased the price target to p250.00 from p180.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors including Oxford Nanopore Technologies’ robust financial performance and strategic initiatives. The company’s recent half-year update showed impressive revenue growth, particularly in the Americas, and a reduction in adjusted EBITDA loss, signaling improved operational efficiency.
Kyle Mikson also highlighted the company’s transition to a new pricing model, which has positively impacted margins and reduced cash outflows. Additionally, the strong demand for high-throughput instruments has driven significant growth in consumables revenue. These factors, along with a favorable outlook on revenue and operating margins, underpin the Buy rating, as the stock presents solid upside potential from current levels.
In another report released yesterday, RBC Capital also reiterated a Buy rating on the stock with a p250.00 price target.
ONT’s price has also changed dramatically for the past six months – from p146.000 to p212.400, which is a 45.48% increase.