BillionToOne initiated with a Buy at BTIG

BTIG analyst Mark Massaro initiated coverage of BillionToOne (BLLN) with a Buy rating and $160 price target BillionToOne has achieved “a remarkable level” of revenue growth and margin expansion in a short period of time and operates in the very large, attractive, rapidly growing prenatal and oncology diagnostics markets, the analyst tells investors. Its UNITY test was the first non-invasive prenatal test to also screen for recessive conditions like sickle cell disease and provide a carrier screening test result without requiring a sample from the father, notes the analyst, who models 2028 revenue of $803M and 25%-plus adjusted EBITDA margin exiting 2028.