Bruker Acquires Molecular Imaging Instruments Producer MOLECUBES
Scientific instruments manufacturer Bruker Corporation (BRKR) recently revealed that it has acquired molecular imaging instruments manufacturer MOLECUBES NV. The financial terms of the deal have been kept under wraps.
Following the news, shares of the company declined marginally on Friday. The stock, however, pared its losses slightly to close at $84.06 in the extended trading session.
Implications of the Deal
With this buyout, Bruker expects to enhance its nuclear molecular imaging (NMI) systems offering and enable widespread adoption of preclinical NMI in academic medical centers and biopharma companies with MOLECUBES’ CUBES system.
The President of Bruker BioSpin Preclinical Imaging Division, Dr. Wulf I. Jung, said, “The acquisition of MOLECUBES adds scalable benchtop instruments to our portfolio for serving the NMI preclinical research community. The synergies between our and MOLECUBES’ research and development, applications and service teams is expected to benefit our combined NMI customers worldwide.”
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Recently, Cowen & Co. analyst Max Masucci reiterated a Hold rating on the stock. The analyst, however, raised the price target from $68 to $90, which implies upside potential of 7.4% from current levels.
The Wall Street community is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 2 Buys and 2 Holds. The average Brucker price target of $94.50 implies that the stock has upside potential of 12.7% from current levels.
Brucker scores an 8 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to outperform market expectations. Shares have gained 61.5% over the past year.
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