Analyst Michael Matson of Needham maintained a Buy rating on Personalis (PSNL – Research Report), retaining the price target of $7.00.
Michael Matson has given his Buy rating due to a combination of factors that highlight Personalis’s strategic advancements and market potential. The company is making significant strides with its NeXT Personal assay, which is crucial for ultrasensitive ctDNA detection in areas such as lung cancer, breast cancer, and immunotherapy monitoring. This positions Personalis well for future reimbursement opportunities in these critical indications.
Additionally, Personalis is actively expanding its Biopharma business by leveraging partnerships with other cancer testing service providers. This strategy not only enhances the visibility of its NeXT platform but also strengthens its market presence. These growth drivers collectively contribute to a positive outlook for Personalis, justifying the Buy rating from Michael Matson.