Austin Moeller, an analyst from Canaccord Genuity, maintained the Buy rating on Cibus (CBUS – Research Report). The associated price target remains the same with $18.00.
Austin Moeller has given his Buy rating due to a combination of factors including Cibus’s strong revenue growth and strategic realignment efforts. The company’s Q4/24 revenue of $1.2M aligns with expectations, contributing to a 135% year-over-year increase in total revenues for FY24. This growth is primarily driven by collaboration agreements and the development of a palm oil alternative. Additionally, Cibus has effectively managed its operating expenses, with a notable reduction in R&D expenses and stable SG&A costs, following a strategic reduction in workforce.
Another significant factor influencing the Buy rating is the progress on the regulatory front in the EU regarding gene-editing techniques. The EU Council’s support for negotiations on the regulatory treatment of new genomic techniques is a positive development, potentially paving the way for broader adoption of these technologies. Cibus’s focus on its three-crop, five-trait pipeline, along with anticipated milestones in its Rice and Soybean platforms, further supports the positive outlook. The company’s cash reserves and strategic plans to raise equity capital also provide confidence in its ability to meet capital requirements, reinforcing the Buy recommendation.
In another report released on March 21, H.C. Wainwright also maintained a Buy rating on the stock with a $25.00 price target.