Argus analyst David Toung raised his price target on Bio-Techne to $230 and kept his Buy rating, saying the company appears to be on track for ongoing “solid” revenue growth thanks to the domestic and international demand for its products. The analyst is also positive on Bio-Techne’s continued expansion through acquisitions such as its recent purchase of Quad Technologies, producing advanced reagents for clinical and research use, and Exosome Diagnostics, marketing a noninvasive liquid biopsy diagnostic test for prostate cancer. Tough further cites the company’s internal development, including its “recent initiative to advance cell and gene therapy research and ex vivo cell processing”.
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