'Balanced risk/reward profile', Kepler cuts Biocartis to 'hold'

Biocartis NV

13/01/2022 09:28

** Kepler Cheuvreux cuts Biocartis  BCART.BR  to "hold" from
"buy" as it lowers its estimates and now sees a balanced
risk/reward profile 
    ** It points to a longer path to profitability than
initially expected and a financing gap causing uncertainty   
    ** The broker says it has become more cautious on the
company and is revising its estimates given Biocartis' 2021
performance in combination with current market conditions
    ** Kepler cuts its 2021/2022 EBITDA estimates on the back of
lower cartridge sales, higher variable cost per cartridge and
lower operating leverage
    ** The broker adds that at the end of 2021, the company had
a cash position of EUR 53.5 million, which results in the need
to attract additional financing in order to fund its future
operations   
    ** Out of 4 analysts that cover Biocartis, three rate the
stock "strong buy" or "buy" and ​one analyst rates "hold"


($1 = 0.8715 euros)

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))