RE: Citywire3 Jan 2024 08:40
Up 4.2% Target 120p !
Like your post:-
Liquid biopsy company Angle (AGL) has signed a ‘pivotal’ contract that signals a ‘landmark achievement’, says Berenberg.
Analyst Odysseas Manesiotis retained his ‘buy’ recommendation and target price of 120p on the stock, which added over 3% to 12.1p on the first day of trading in 2024. The shares plunged 75% last year.
Manesiotis said the group announced a ‘pivotal contract’ with Eisai Inc of Japan to test oncology drugs that is worth $250,000 over the study’s duration but ‘also marks a significant milestone for Angle, offering potential for extensive follow-up studies and establishing a promising collaboration with a major company in the pharmaceutical industry’.
‘This contract with Eisai Inc represents a landmark achievement for Angle, signifying its entry into high-profile pharmaceutical collaborations and the potential for a transformative impact in oncology therapeutics,’ said Manesiotis.
‘While Angle’s approach remains novel and hence less likely to be trialled during periods of weak biotech funding, we continue to think it offers significant potential in one of the most attractive cancer diagnostics niches, and with a fresh commercial muscle, products and now strong validation, the shares could trade very well as biotech funding recovers.’
All IMHO.