Oxford Nanopore Technologies (LON:ONT) Earns Outperform Rating from Royal Bank of Canada

Oxford Nanopore Technologies (LON:ONT – Get Rating)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a GBX 400 ($4.84) price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 29.03% from the company’s current price.

Several other research firms also recently commented on ONT. Barclays dropped their target price on Oxford Nanopore Technologies from GBX 700 ($8.48) to GBX 500 ($6.05) and set an “overweight” rating on the stock in a report on Tuesday, May 31st. JPMorgan Chase & Co. dropped their target price on Oxford Nanopore Technologies from GBX 790 ($9.57) to GBX 710 ($8.60) and set an “overweight” rating on the stock in a report on Tuesday, March 29th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 671 ($8.13) target price on shares of Oxford Nanopore Technologies in a report on Wednesday.

Oxford Nanopore Technologies stock traded up GBX 35 ($0.42) during mid-day trading on Wednesday, hitting GBX 310 ($3.75). The company had a trading volume of 2,646,657 shares, compared to its average volume of 1,668,368. The company has a quick ratio of 5.23, a current ratio of 7.15 and a debt-to-equity ratio of 3.52. The business has a 50 day simple moving average of GBX 305.91. Oxford Nanopore Technologies has a 12 month low of GBX 239 ($2.89) and a 12 month high of GBX 736 ($8.91). The company has a market capitalization of £2.55 billion and a P/E ratio of -13.54.

In other Oxford Nanopore Technologies news, insider Sarah Gordon Wild purchased 14,778 shares of the stock in a transaction dated Monday, May 30th. The shares were purchased at an average cost of GBX 337 ($4.08) per share, with a total value of £49,801.86 ($60,307.41). Also, insider Adrian Nevil Hennah bought 14,125 shares of the stock in a transaction on Tuesday, April 12th. The stock was purchased at an average cost of GBX 356 ($4.31) per share, for a total transaction of £50,285 ($60,892.47). Over the last ninety days, insiders have bought 29,002 shares of company stock worth $10,038,797.

Oxford Nanopore Technologies Company Profile (Get Rating)

Oxford Nanopore Technologies Limited develops and commercializes a technology platform using nanopore-based sensing for the analysis of various types of molecules. The company offers MinION, a portable device for deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) sequencing; GridION, a self-contained benchtop device for running and analyzing up to five MinION or Flongle flow cells; Flongle, an adapter for use in MinION or GridION devices to attach a Flongle flow cell; PromethION 24 and PromethION 48 benchtop nanopore-based sequencers for multiple users to deliver multi-sample and multi-experiment sequencing results; and VolTRAX, an alternative lab equipment.

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