Accelerating MRD Momentum and Reimbursement Tailwinds Support Buy Rating on Personalis

Needham analyst Michael Matson has maintained their bullish stance on PSNL stock, giving a Buy rating on February 11.

Michael Matson has given his Buy rating due to a combination of factors tied to Personalis’s accelerating operating momentum and reimbursement progress. While 2026 revenue guidance came in below Street expectations, growth has clearly inflected, with fourth-quarter 2025 sales returning to positive territory after a sharp decline, supported by improving trends in biopharma, clinical diagnostics, and VA MVP demand.

Crucially, the company’s molecular testing volume expanded rapidly, supported by Medicare coverage wins in breast and lung cancer and the pending decision for immunotherapy monitoring, which strengthens the long-term adoption outlook. Matson views minimal residual disease testing as the primary value engine, and the strong sequential growth in this segment underpins confidence in the “Win in MRD” strategy, justifying a higher price target and reinforcing his Buy recommendation.

Matson covers the Healthcare sector, focusing on stocks such as TransMedics Group, Masimo, and Teleflex. According to TipRanks, Matson has an average return of 0.6% and a 43.98% success rate on recommended stocks.

In another report released on February 11, BTIG also reiterated a Buy rating on the stock with a $13.00 price target.