Personalis: Strengthened Balance Sheet and NeXT Personal Growth Underpin Reiterated Buy Rating and $12 Target

Mark Massaro, an analyst from BTIG, reiterated the Buy rating on Personalis. The associated price target is $12.00.

Mark Massaro has given his Buy rating due to a combination of factors tied to Personalis’s strengthened financial position and accelerating growth trajectory. He highlights that the company’s substantial capital raise via its at-the-market program has nearly doubled its cash balance, providing what he views as at least three years of funding and a clear line of sight to potential profitability without needing additional capital. He interprets this bolstered balance sheet as enabling management to execute a more aggressive commercial strategy, particularly around the NeXT Personal MRD test. In his view, this de-risks the story and supports a more assertive push into key oncology markets.

Massaro also points to operational momentum, including quarterly revenue that slightly exceeded expectations and robust growth in clinical test volumes for NeXT Personal, which climbed over 40% sequentially. While current average selling prices remain well below industry peers, he anticipates meaningful price expansion over time as reimbursement broadens and the product gains further validation. He notes that the partnership with Tempus is already driving positive commercial traction and sees upcoming reimbursement decisions from MolDx as important catalysts. Together with supportive sector validation from recent industry M&A and a valuation anchored by a revenue multiple on 2027 estimates, these elements underpin his reiterated Buy rating and $12 price target on Personalis shares.

According to TipRanks, Massaro is an analyst with an average return of -2.0% and a 35.17% success rate. Massaro covers the Healthcare sector, focusing on stocks such as GeneDx Holdings, Exact Sciences, and Zoetis.

In another report released yesterday, Needham also maintained a Buy rating on the stock with a $10.00 price target.