As previously reported, Craig-Hallum initiated coverage of Personalis (PSNL) with a Buy rating and $8 price target. The firm notes Personalis has an ultra-sensitive MRD assay that is sold through a partnership with Tempus, and is the second company to launch a tumor-informed test in the $20B MRD market. Personalis also uses its technology to support pharma companies with drug development, and is embedded into the workflow for Moderna’s (MRNA) personalized cancer therapy product currently in Phase 2 and 3 trials for multiple indications. Trading at just under 2-turns forward EV to sales, Craig-Hallum sees Personalis as an attractive opportunity in the emerging MRD market.
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Read More on PSNL:
- Personalis initiated with a Buy at Craig-Hallum
- Hold Rating for Personalis: Balancing Strong Enterprise Sales and Future Uncertainties
- Personalis’ Earnings Call: Growth Amid Challenges
- Buy Rating Affirmed for Personalis Amid Strong Test Volume Growth and Strategic Expansion
- Strong Growth Potential for Personalis Driven by NeXT Personal MRD Test Kit and Strategic Collaborations
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