Personalis (PSNL – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Michael Matson from Needham maintained a Buy rating on the stock and has a $7.00 price target.
Michael Matson has given his Buy rating due to a combination of factors including Personalis’s strong sequential test volume growth in the fourth quarter of 2024. The company’s revenue for this period aligned with its preannouncement, and its earnings per share exceeded consensus expectations. Despite a slowdown in revenue growth from the previous quarter, the significant increase in the number of NeXT Dx and NeXT Personal tests performed indicates robust demand and successful commercialization efforts, particularly in collaboration with Tempus. Furthermore, Personalis anticipates at least two favorable reimbursement decisions for NeXT Personal in 2025, which could enhance its financial outlook. The company is also strategically increasing its cash burn to strengthen its commercial capabilities in anticipation of these reimbursement decisions, suggesting a proactive approach to future growth.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $8.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSNL in relation to earlier this year.