Champions Oncology price target raised to $8 from $6 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Champions Oncology (CSBR) to $8 from $6 and keeps a Buy rating on the shares. The firm notes Champions’ Q2 results were very strong as the company beat estimates across the board. The company saw increasing demand in core business and forecasted positive EBITDA for the remainder of the year. While management noted they expect Q3 revenues to dip slightly, they expect a strong rebound in Q4. After withholding guidance the past few quarters given the uncertainty in the market, the increasing visibility allowed them to initiate FY25 revenue guidance of 10%-15% growth. Over the next couple of quarters, Craig-Hallum expects to see the return of big pharma investment as well as a potential tailwind from the Biosecure Act to further add opportunities to increase revenues.