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Waters Corporation Partners with BTI to Accelerate Biologics Production

The analytical laboratory instrument and software company Waters Corporation (WAT) has expanded its research collaboration with the Bioprocessing Technology Institute (BTI).

The company lost almost 2% to close at $337.78 on June 27. However, Waters saw a significant share price rise over the past few months. The shares gained 36.7% in the past six months and 91.3% over the past year.

Today, Waters announced that it has expanded its joint work with the Bioprocessing Technology Institute (BTI).

Through the new project, Waters and BTI will apply analytics to rapidly classify and understand a variety of biomolecules within glycomics and metabolomics data. The project aims to improve the speed and accuracy of analytical workflows, thereby reducing costs and increasing the production of biologics.

Glycomics is the study of all glycan structures of a given cell type or organism.

The deal is in-line with the company’s aim to accelerate bioprocessing and bioinformatics research to bolster its presence in the pharmaceutical industry.

Waters Corporation’s Asia Pacific Vice President David Curtin said, “Our work with BTI spans multiple successful collaborations in the realm of glycomics and bioprocessing research.”

Curtin added, “This work aims to help biotherapeutic manufacturers with at-line or in-line measurements of complex molecules to identify issues quickly during routine production and reduce costs or frequency of failed batches.” (See Waters Corporation stock chart on TipRanks)

Overall, the stock has a Moderate Sell consensus rating based on 2 Holds and 1 Sell. The average WAT price target of $379.00 implies 12.2% upside potential from the current levels.

On May 6, Wells Fargo analyst Dan Leonard reiterated a Sell rating on the stock but increased the price target to $290.00 from $280.00. This implies 14.2% downside potential to current levels.

The analyst believes that the company will take more time than anticipated by the investors to restore its growth trajectory.

TipRanks data shows that financial blogger opinions are 66% Bullish on WAT, compared to a sector average of 69%.

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