Cantor Fitzgerald launched coverage of Mainz Biomed B.V. (NASDAQ:MYNZ) with an “overweight” rating and 12-month price target of $15. The stock closed at $6.63 on Oct. 24.
MYNZ develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. Its flagship product, ColoAlert, an accurate, non-invasive, and easy-to-use early-detection diagnostic test for colorectal cancer, is CE-IVD marked and approved for sale in Europe.
Analyst Ross Osborn writes that European sales provide near-term revenue potential while the company prepares to enter the U.S. market.
Mr. Osborn’s “overweight” rating is based on a favorable view of the estimated $13-billion EU and U.S. colorectal cancer screening market; a belief that Mainz’s partnership model will provide for fast adoption and operating leverage over time; and the company’s shares are attractively valued.
Mainz continues to partner with some of Europe’s largest chain laboratories in order to drive penetration of ColoAlert into existing lab customers.
“We believe that this strategy will result in faster adoption versus Mainz directly marketing the company’s test, and will provide operating leverage over time,” he added.
