In a report released yesterday, Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on GRAIL Inc, with a price target of $43.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight GRAIL Inc’s promising outlook. Despite reporting second-quarter results that fell short of expectations, GRAIL demonstrated a 21% year-over-year growth in revenue from its Galleri test, a multi-cancer early detection tool. This growth, coupled with improved cost efficiency per test, underscores the company’s potential in the MCED testing market.
Additionally, GRAIL’s strategic pricing adjustments have led to a notable increase in test reorders, suggesting strong demand and customer retention. The company also plans to present significant data from its PATHFINDER 2 study, which could further validate the efficacy of its tests. Furthermore, GRAIL’s reduction in cash burn projections and reaffirmation of its revenue growth guidance for 2025 reflect a solid financial strategy, making the stock an attractive investment opportunity.
Mikson CFA covers the Healthcare sector, focusing on stocks such as Exact Sciences, Illumina, and Quanterix. According to TipRanks, Mikson CFA has an average return of -9.7% and a 29.79% success rate on recommended stocks.