1147 GMT - Angle PLC has been hit by challenging wider market conditions, which have delayed the pace of Parsortix commercialization and revenue recognition, Jefferies says. The U.K. liquid-biopsy company is now set for lower 2022 top-line results and 2023 sales are likely to be shy of current consensus as a result of macroeconomic woes, Jefferies analysts say in a research note. Importantly, however, new pharma-services clients have been secured, with management focused on driving the longer-term adoption of Parsortix in the multi-billion dollar liquid-biopsy market, the U.S. bank says. Jefferies retains its buy rating and 170.0 pence price target on Angle's stock. Shares are down 31% at 33.0 pence. (joseph.hoppe@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

01-05-23 0707ET