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Premaitha – deal with Coastal Genomics, not the normal RNS but still STRONG BUY, new target price

By HotStockRockets | Wednesday 13 June 2018

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

We are getting increasingly used to Premaitha (NIPT) announcing more and more large non-UK distribution agreements. And fear not there will be much more on that front in the weeks and months that lie ahead. It will be a hot summer for Premaitha and for we loyal shareholders. But, for now, there is something a bit different.

The company has signed an agreement with Coastal Genomics, a biotechnology engineering firm based in Vancouver, Canada, to develop advanced technologies for clinical DNA sequencing tests. Coastal will work to enhance Premaitha’s, already market-leading, product giving it an even clearer technological edge which, we would hope, would add to the sales momentum.

It has been an awfully long time since we first tipped these shares and it has been a bumpy ride - for which we apologise. But now the company is profitable, generating cash and with a high margin enjoying a real top and bottom line ramp up. That is reflected in how the shares have rallied to 8.5p-8.8p.

The original tip was at 17p with a limit buy price of 19p although we did move that higher before the Illumina "episode". Our new Limit buy price is 12p, the target is 25p to sell and we expect to be there by Christmas. This really is one to average down on at this level. STRONG BUY.

This article first appeared on HotStockRockets - to catch the next red hot share tip from the HotStockRockets team for just £5 click HERE

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