Analyst Michael Matson from Needham maintained a Buy rating on Personalis and keeping the price target at $7.00.
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Michael Matson has given his Buy rating due to a combination of factors that highlight Personalis’s potential for future growth. Despite a decline in biopharma and enterprise sales leading to a revenue miss and lowered guidance for 2025, the company demonstrated significant progress in its molecular testing segment. The number of molecular tests performed increased by 59% from the previous quarter, indicating strong demand and execution in this area.
Additionally, Personalis is actively pursuing reimbursement for its NeXT Personal product in breast cancer and immunotherapy monitoring, with expectations for positive outcomes in 2025. Matson views the minimal residual disease (MRD) testing as a critical value driver for the company, and the robust growth in this segment supports the “Win in MRD” strategy. This strategic focus and the potential for reimbursement success underpin Matson’s optimistic outlook and Buy rating, suggesting that investors should consider purchasing shares during periods of market weakness.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $8.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSNL in relation to earlier this year.