Expanding Reimbursement and Market Reach Underpin Buy Rating and $13 Target on Personalis

In a report released yesterday, Mark Massaro from BTIG reiterated a Buy rating on Personalis, with a price target of $13.00.

Mark Massaro has given his Buy rating due to a combination of factors tied to Personalis’s growing Medicare coverage and market opportunity. He highlights that the NeXT Personal test now has reimbursement for monitoring early- to mid-stage non-small cell lung cancer, building on prior breast cancer coverage and supporting a broader clinical adoption trajectory in a very large U.S. cancer population.

Massaro also points to favorable test economics, a strengthened commercial push with increased marketing and sales investment, and a sizeable cash position that supports execution. He believes these dynamics, alongside upcoming potential coverage for pan-cancer immunotherapy monitoring and other near-term catalysts, justify his revenue outlook and the $13 price target derived from a multiple-based valuation on 2027 estimates.

In another report released on February 10, Lake Street also maintained a Buy rating on the stock with a $11.00 price target.