BIOCARTIS: Cash crunch overhang or opportunity? | NEUTRAL vs. BUY | EUR2.5 VS. EUR6 (+7%)
BIOCARTIS - NEUTRAL vs. BUY | EUR2.5 VS. EUR6 (+7%)Cash crunch overhang or opportunity?
We cut our estimates and reduce our TP to EUR2.5 (from EUR6) and change our rating to Neutral (from Buy), as we believe the uncertainty surrounding the companies cash reach create uncertainty for shareholders. Though risk taking into a recapitalisation or potential takeout could offer attractive albeit speculative risk, we prefer to stay on the side lines now as we envisage a highly binary resolution with little visibility to inform investors.
Biocartis Group NV is a Belgium-based company, which specializes in the development of molecular diagnostic systems, especially for the treatment of cancers and infectious diseases, the products ensure the analysis of biomolecules associated with risk factors, early detection, treatment selection and monitoring of disease. The group has the Idylla system to deliver results within a period of between 35 to 150 minutes.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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