UPDATE: Stifel Starts Rapid Micro Biosystems Inc (RPID) at Buy

Stifel analyst Stephen Gengaro initiates coverage on Rapid Micro Biosystems Inc (NASDAQ: RPID) with a Buy rating and a price target of $28.00.

The analyst comments "RPID's automated platform for Microbial Quality Control (MQC) is a solution with a robust outlook within a biopharma customer set that is intensely focused on efficiency and regulatory compliance, particularly as workflow complexity increases. While still somewhat early, we believe the initial placement traction, large opportunity (especially within the biologics space), straight forward use-case, and favorable competitive environment bode well for steady and strong growth as penetration and usage grows. We think RPID can therefore be a story that advances and creates value through consistent execution within an established, but under-penetrated market. In this way, RPID screens as a good way for investors with a slightly lower risk tolerance to take part in the ongoing emergence of new, disruptive life sciences assets, in our view."

For an analyst ratings summary and ratings history on Rapid Micro Biosystems Inc click here. For more ratings news on Rapid Micro Biosystems Inc click here.

Shares of Rapid Micro Biosystems Inc closed at $23.35 yesterday.

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