MaxCyte price target raised to $10 from $7 at BTIG

BTIG raised the firm’s price target on MaxCyte (MXCT) to $10 from $7 and keeps a Buy rating on the shares. MaxCyte and its large customers Vertex Pharmaceuticals (VRTX) and CRISPR Therapeutics (CRSP) are now just days away from potentially securing the first ever CRISPR-approved cell and gene therapy in the U.S., as exa-cel’s SCD PDUFA date is scheduled for this Friday December 8, the analyst tells investors in a research note. While shares of MaxCyte are up 93% since the all-time low on October 5, 2023, upside remains in the stock as the FDA approval of exa-cel can help de-risk its electroporation platform at large, which includes 23 strategic program license agreements and 125 clinical programs, including 16 that are active in the clinic, the firm adds.