RE: YGEN20 Apr 2020 13:05
Good rec.......
US financial group Stifel issued a ‘buy’ call on Yourgene’s shares after today’s update.
In its latest research note, Stifel said: “Yourgene’s revenues grew 86% in FY20 (12 months to 31 March) to £16.6m, just shy of our £16.9m target, which would have been met and exceeded but for £0.4m of orders in March that fell into FY21 due to COVID-19 transport restrictions.
“Within this, organic growth was very strong at 36%, and growth was consistent across all regions and product offerings. Core NIPT revenues were up 29% to £10.1m, even while the majority of UK and European customers wait to transition to the Illumina-based IONA test, with regulatory approval due in 2Q20.
“So far, COVID-19 appears to be having a limited impact on the business, having been well prepared and the first shipments to support Novacyt’s COVID-19 diagnostic tests have now been made.
“We believe FY20 was a transformational year for a business that is well positioned for the future. Buy.”