Oxford Nanopore Technologies (LSE:ONT) delivered a material first-half beat on adjusted EBITDA losses, with improved operating-cost guidance and confirmation of a previously flagged second-half licensing opportunity; altogether a positive update according to Deutsche Bank, which has repeated a 'Buy' rating and a bullish target price.
Pitched at 195p, DB's target sees a meaningful step up from the current price of 150.8p.
The London-listed gene-sequencing technology company's update gave investors greater visibility on second-half delivery and the full-year outlook, DB analyst Kane Slutzkin said in a note.
Slutzkin noted that full-year consensus currently assumes an adjusted EBITDA loss of around £62m, against his own £56m estimate, versus management's guided range of a £45m to £55m loss.
That gap, he said, "suggests some scope for upgrades" to consensus numbers.
The latest broker note also flagged strengthening confidence in the company's path to adjusted EBITDA breakeven in the 2027 financial year.
