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.
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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
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