Bio-Techne (TECH – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 5. Analyst Puneet Souda from Leerink Partners maintained a Buy rating on the stock and has a $95.00 price target.
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Puneet Souda has given his Buy rating due to a combination of factors that highlight Bio-Techne’s strong growth prospects and strategic positioning. One of the key drivers for this positive outlook is the company’s impressive performance in the GMP proteins sector, which showed a remarkable growth of over 90% year-over-year. This growth is supported by significant advances in the cell and gene therapy markets, where Bio-Techne has been able to pull forward late-stage orders, contributing to its strong financial performance.
Additionally, Souda notes the positive trends in the pharmaceutical sector, with a recovery observed in major markets such as the US and Europe. Bio-Techne’s diverse portfolio, particularly its lower-priced reagents and consumables, is well-suited to support academic orders even amid potential funding uncertainties. The company’s strategic focus and the expected positive shift in the Chinese market further bolster its growth outlook, leading to a constructive setup for future performance and supporting the Buy rating.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $88.00 price target.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TECH in relation to earlier this year.