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H.C. Wainwright Starts Centogene NV (CNTG) at Buy

November 23, 2022 6:10 AM EST
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Price: $0.78 +1.30%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 28 | New: 30
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(Updated - November 23, 2022 6:37 AM EST)

H.C. Wainwright analyst Yi Chen initiates coverage on Centogene NV (NASDAQ: CNTG) with a Buy rating and a price target of $2.50.

The analyst commented, "Headquartered in Germany, Centogene is a diagnostics company that has developed a global proprietary rare disease platform based on real-world data. The company’s biological repository represents approximately 700,000 individuals from over 120 countries and includes epidemiologic, phenotypic and genetic and multiomics data, with a biobank of patients’ biological samples. This unique platform is being leveraged by pharmaceutical partners to improve the understanding of rare, metabolic and neurodegenerative hereditary diseases. As of the end of 2021, the company had collaborations with 33 pharmaceutical partners on projects targeting over 46 rare diseases. Centogene also offers diagnostics solutions to physicians. Specialist physicians can request diagnostic information to identify or confirm a rare disease by sending Centogene their patients’ blood samples on the company’s proprietary dried blood spot collection kit (CentoCard, CE Marked). Centogene then sends back reports that contain genetic, proteomic, metabolomic information, or some combination. These data are also added to the company’s BioDatabank. Notably, the company has developed 11 biomarkers covering 10 diseases, and commercialized many biomarkers as laboratory developed tests for AADC deficiency, Fabry disease, Gaucher disease, Niemann-Pick Type A/B and Niemann-Pick Type C diseases. According to management, Centogene offers the broadest diagnostic testing portfolio for rare diseases, covering over 19,000 genes using over 10,000 different tests. The company’s core revenue (Diagnostics and Pharma) was €43.5M in 2021. Management has guided that 2022 revenue would be in the range of €50-52M with a growth rate of 15-20% YoY. We are initiating coverage with a Buy rating and 12-month price target of $2.50 per share."

For an analyst ratings summary and ratings history on Centogene NV click here. For more ratings news on Centogene NV click here.

Shares of Centogene NV closed at $0.75 yesterday.


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