BTIG launched coverage of Fluidigm (NASDAQ:FLDM) with a “buy” rating and price target of $15. The stock closed at $12.79 on March 13.
Analyst Sung Ji Nam writes that the long-term growth or market potential for the company’s mass cytometry portfolio of products is central to her buy thesis. Mass cytometry is used to determine the properties of cells.
“We believe Fluidigm’s mass cytometry product line, representing about $60-milliom in revenue in 2018, is one of the few emerging, highly differentiated technology platforms in the life science tools industry, providing unprecedented and potentially revolutionary insights for life science research, biopharma drug development, and precision medicine,” she added.
Ms. Nam said mass cytometry has the potential to help “revolutionize drug discovery and development in immuno-oncology and beyond, and to drive double-digit revenue growth over multiple years.”
