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Olink shares hold steady with $26 target amid acquisition

EditorBrando Bricchi
Published 05/14/2024, 03:03 PM
OLK
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On Tuesday, Canaccord Genuity maintained a Hold rating for Olink Holding AB (NASDAQ: NASDAQ:OLK) with a steady price target of $26.00. This confirmation follows Olink's first-quarter 2024 financial results, which presented a mixed performance. Despite revenues and gross margin not meeting expectations, the company showed strength in adjusted EBITDA and key operating metrics.

Olink, known for its proteomics solutions, has been under the spotlight since Thermo Fisher Scientific (NYSE: NYSE:TMO) announced plans to acquire the company for $26.00 per American depositary share. This acquisition announcement, made on October 17, is currently under scrutiny as the UK Competition and Markets Authority (CMA) has initiated a Phase 1 investigation. The decision from this investigation is expected by July 8.

While the acquisition is anticipated to finalize by mid-2024, the ongoing regulatory review introduces an element of uncertainty. The outcome of the CMA's inquiry could influence the future of the merger and Olink's valuation as an independent entity. The current market conditions and regulatory developments are pivotal factors in assessing Olink's standalone value, especially if the merger faces obstacles.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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