William Blair analyst Matt Larew has maintained their bullish stance on MASS stock, giving a Buy rating on March 5.
Matt Larew has given his Buy rating due to a combination of factors that highlight 908 Devices’ promising financial trajectory. The company’s recent fourth-quarter results exceeded expectations, with total revenue surpassing initial estimates and an improved adjusted gross margin. Additionally, the sale of its bioprocessing assets to Repligen for $70 million in cash has strategically positioned 908 Devices as a focused forensics analysis company, accelerating its path to profitability.
Furthermore, the divestiture has strengthened the company’s financial standing by significantly increasing its cash reserves, which is expected to exceed $110 million by the end of 2025. This financial bolstering, coupled with the company’s guidance for substantial revenue growth and improved margins in the coming years, supports the positive outlook. The strategic shift away from the challenging bioprocessing market to a more streamlined focus is seen as a prudent move, enhancing the company’s potential for future success.
In another report released on March 5, Stifel Nicolaus also maintained a Buy rating on the stock with a $6.00 price target.
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