GenOway: sharp rise, broker initiates buy recommendation

(CercleFinance.com) - genOway shares are up more than 4% in Paris today, helped by a recommendation from Euroland, which today initiated a Buy rating on the stock with a price target of 5.
80 euros, representing a potential upside of 41%.

In a research note, the brokerage praises the transformation carried out by the company since 2018, which has notably enabled it to accelerate growth and improve margins via an adjustment to its business model.

"Long presented as a biotech company, genOway is in reality a provider of innovative solutions serving biopharmaceutical companies and their preclinical research', stresses the market intermediary.

'Indeed, the company designs and develops genetically modified research models enabling better prediction of patient response to future treatments', Euroland continues.

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