H.C. Wainwright initiates Centogene with 'buy' rating

Crown LiquidationCo NV in liquidatie

23/11/2022 19:41

** U.S.-listed shares of Germany-based diagnostic and pharma
company Centogene N.V.  CNTG.O  rise 6.7% to 80 cents 
    ** H.C. Wainwright initiates coverage with "buy" rating as
it sees strong opportunities in rare diseases market, which CNTG
intends to strengthen by building out its BioDatabank 
    ** Bio/Databank integrates patient-consented data, including
clinical information, health records, genetic insights,
biomarkers and patient recorded outcomes 
    ** Brokerage assigns $2.50 PT; Says CNTG has guided that its
2022 revenue would be in the range of 50 million to 52 million
euros ($51.94 mln - $54 mln) with a growth rate of 15%-20% y-o-y
  
    ** H.C. Wainwright also keen on the diagnostic services as
CNTG says it offers the broadest diagnostic  testing  portfolio 
for  rare  diseases,  covering  over  19,000 genes using over
10,000 different tests 
    ** CNTG aims to fully execute on its existing more than 20
ongoing partnerships and target nearly 20 new pipeline deals -
Brokerage 
    ** Including session's gain, stock down 85.7% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))