March 2 (Reuters) - Shares in Oxford Nanopore Technologies fell nearly 12% on Monday after the British biotech firm lowered its medium-term revenue growth target. Oxford Nanopore shares were down 11.6
UK's Oxford Nanopore shares fall on medium-term revenue growth forecast cut
Oxford Nanopore Technologies Revenue Growth and Market Challenges
Share Price Reaction
March 2 (Reuters) - Oxford Nanopore Technologies shares fell nearly 13% on Monday after the British biotech firm lowered its medium-term revenue growth target due to U.S. National Institute of Health budget constraints and challenges in the China market.
Revised Revenue Growth Forecast
The firm said it now expects its fiscal 2027 revenue to grow broadly between 21% and 25% on a constant currency basis, down from the more than 30% it had forecast until 2027.
Analyst Response
Analysts at Berenberg said the cut to medium-term revenue growth target has prompted them to lower their estimates.
Potential for Recovery
"We can... still see a path to Oxford Nanopore growing well above our revised forecasts in the medium-term should conditions in China improve, US National Institutes of Health budget constraints reduce," Berenberg analyst Sam England said in a note.
Financial Performance Overview
Shares in Oxford Nanopore, which said its 2026 revenue growth will also be between 21% and 25%, were down 12.8% at 116 pence, as of 0904 GMT.
The firm reported fiscal 2025 adjusted core loss of 86.7 million pounds ($115.58 million), smaller than the prior year's loss of 117.9 million pounds on a 24.2% jump in revenue on a constant currency basis.
($1 = 0.7501 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Subhranshu Sahu)
