MaxCyte price target lowered to $6 from $8 at BTIG

BTIG analyst Mark Massaro lowered the firm’s price target on MaxCyte (MXCT) to $6 from $8 and keeps a Buy rating on the shares after its Q4 results. The company saw a 6% y/y decline in revenue, with solid core revenue growth of 9% partially offset by a 15% Y/Y decline in instrument revenue and a 47% Y/Y decline in milestone-based revenue due to the expected difficult comp from the payments from Vertex (VRTX), the analyst tells investors in a research note. The firm adds however that the management has estimated they have eight potential approved programs in 2027 and 2028 for lymphoma, leukemia, SCD, and genetic disease indications.