TW's latest fwiw15 Jun 2018 14:06
We are getting increasingly used to Premaitha (NIPT) announcing more and more large non-UK distribution agreements. And fear not there will be much more on that front in the weeks and months that lie ahead. It will be a hot summer for Premaitha and for we loyal shareholders. But, for now, there is something a bit different.
The company has signed an agreement with Coastal Genomics, a biotechnology engineering firm based in Vancouver, Canada, to develop advanced technologies for clinical DNA sequencing tests. Coastal will work to enhance Premaitha’s, already market-leading, product giving it an even clearer technological edge which, we would hope, would add to the sales momentum.
It has been an awfully long time since we first tipped these shares and it has been a bumpy ride - for which we apologise. But now the company is profitable, generating cash and with a high margin enjoying a real top and bottom line ramp up. That is reflected in how the shares have rallied to 8.5p-8.8p.
The original tip was at 17p with a limit buy price of 19p although we did move that higher before the Illumina "episode". Our new Limit buy price is 12p, the target is 25p to sell and we expect to be there by Christmas. This really is one to average down on at this level. STRONG BUY.