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ANGLE PLC (LSE:AGL) has received high praise from German investment bank Berenberg, which has reaffirmed its 'buy' recommendation and 70p price target for the company. Currently, ANGLE’s shares are trading at 11.28p.
Berenberg’s note highlights ANGLE’s Parsortix system as the 'gold standard' in cancer diagnostics. The Parsortix technology excels in detecting circulating tumour cells (CTCs), which are critical indicators of cancer. Additionally, it enables doctors to evaluate treatment options through a simple blood draw, providing real-time insights into the cancer’s progression.
According to Berenberg, "ANGLE’s Parsortix system is a best-in-class sample preparation technology in a rapidly evolving and clinically significant area of cancer diagnosis (CTC analysis)." The bank projects the liquid biopsy market could potentially exceed $100 billion in the long term, positioning Parsortix as a significant player in capturing market share.
The note also emphasizes the validation ANGLE has received from recent contracts with leading pharmaceutical companies. Berenberg views these agreements as a strong endorsement of the Parsortix technology. Positive results from ongoing studies are anticipated to be crucial for ANGLE's future success.
Berenberg indicated that further contract announcements from ANGLE are likely before the end of the year.
