Maxim analyst Jason McCarthy upgraded Bionano Genomics (BNGO) to Buy from Hold with an $8 price target The company has taken several steps to get itself back on track, including significant cost reductions, refocusing on its core optical genome mapping business, shifting focus from customer acquisition to expanding utilization, and securing cash runway into Q1 of FY26, the analyst tells investors in a research note. Optical genome mapping is also gaining traction at leading institutions, seeing real-world use, and generating publications, the firm adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BNGO:
- Bionano Genomics announces second Category I CPT code for OGM
- Bionano Genomics’ Earnings Call: Strategic Shifts Amid Revenue Challenges
- Bionano Genomics Reports Q1 2025 Financial Results
- Bionano Genomics reports Q1 revenue $6.46M, consensus $6.25M
- Bionano Genomics sees Q2 revenue $6.3M-$6.8M, consensus $7.01M