BTIG analyst Mark Massaro lowered the firm’s price target on MaxCyte (MXCT) to $6 from $8 and keeps a Buy rating on the shares after its Q4 results. The company saw a 6% y/y decline in revenue, with solid core revenue growth of 9% partially offset by a 15% Y/Y decline in instrument revenue and a 47% Y/Y decline in milestone-based revenue due to the expected difficult comp from the payments from Vertex (VRTX), the analyst tells investors in a research note. The firm adds however that the management has estimated they have eight potential approved programs in 2027 and 2028 for lymphoma, leukemia, SCD, and genetic disease indications.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MXCT:
- MaxCyte price target lowered to $9 from $11 at Stifel
- MaxCyte’s Strategic Growth and Strong Positioning Justify Buy Rating Despite Revenue Decline
- MaxCyte’s Strategic Expansion and Financial Resilience Drive Buy Rating
- MaxCyte Reports 2024 Financial Results with Core Growth
- MaxCyte reports Q4 EPS (10c), consensus (12c)