As previously reported, Stephens analyst Drew Jones upgraded Bio-Techne to Overweight from Equal Weight, citing his view of the favorable backdrop for legacy reagents and its sustainable momentum with its protein platforms. The demand for GMP-grade products continues to increase amid an increasing focus on cell therapies and biologics, which Jones said is a great opportunity for Bio-Techne given he views it as well-positioned to gain market share from smaller players who will be unable to make the investments needed to provide high-quality, validated proteins and antibodies. Jones maintains a $180 price target on Bio-Techne shares.