Analyst Mark Massaro of BTIG reiterated a Buy rating on Ginkgo Bioworks Holdings (DNA – Research Report), with a price target of $2.50.
Mark Massaro’s Buy rating for Ginkgo Bioworks Holdings (DNA) is mainly due to several significant factors.
Firstly, DNA has recently announced a new RNA therapeutics deal with Pfizer, which is seen as a considerable opportunity, potentially bringing in $331M in payments across three programs. This deal, the third significant pharmaceutical collaboration following agreements with Merck and Novo-Nordisk, is expected to boost DNA’s revenue. Furthermore, Massaro highlighted that DNA is eligible for royalties on sales from any therapy developed out of these collaborations, which could provide a significant revenue stream.
Another factor influencing Massaro’s rating is the recent shift in Ginkgo’s payment model to a “success-only” approach, which is believed to lower barriers for third parties to use Ginkgo’s platform. The company’s progress with Novo-Nordisk’s program for advancing treatment in diabetes, obesity, and other chronic diseases, and the collaboration with Merck to improve biologic manufacturing efficiency, also add to Ginkgo’s potential. Massaro also recognized Ginkgo’s biosecurity updates, including developing new capabilities in Madagascar, as expanding use cases for its biosecurity business. All these factors combined give reason to Massaro’s Buy rating for Ginkgo Bioworks Holdings.
Massaro covers the Healthcare sector, focusing on stocks such as Castle Biosciences, Exact Sciences, and Natera. According to TipRanks, Massaro has an average return of -15.0% and a 29.78% success rate on recommended stocks.
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Ginkgo Bioworks Holdings (DNA) Company Description:
Ginkgo Bioworks Holdings (NYSE:DNA) is a biotechnology company that offers a platform for cell programming that enables the biological production of various products across the food, pharmaceutical, and fragrance industry. Its platform provides equipment, software, robotic automation, and tools to support genetic engineering, analytics, and fermentation.
Read More on DNA:
- Unusually active option classes on open September 27th
- Ginkgo Bioworks, Madagascar enter MoU to develop new biosecurity capabilities
- Cathie Wood’s ARK Investment bought 1.3M shares of Ginkgo Bioworks today
- Cathie Wood’s ARK Investment bought 2.17M shares of Ginkgo Bioworks today
- Cathie Wood’s ARK Investment bought 970K shares of Ginkgo Bioworks today
