Personalis, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on the stock and has a $8.50 price target.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors including promising clinical data and strategic reimbursement applications. The positive results from the NeoADAURA study, which evaluated the efficacy of osimertinib in treating a specific subset of lung cancer patients, demonstrated that Personalis’ NeXT Personal assay could effectively predict treatment outcomes. This supports its use as a valuable tool in managing challenging lung cancer cases, and the company is actively seeking reimbursement for this indication, marking it as the third for NeXT Personal.
Additionally, the valuation of Personalis’ stock is supported by a thorough analysis, which includes both net present value and enterprise value/sales methods. The calculated 12-month price target of $8.50 reflects these analyses, considering projected future revenues and market conditions. Despite potential risks such as competition and customer concentration, the strategic advancements and robust data underpin the confidence in the stock’s potential growth, justifying the Buy rating.