As previously reported, Craig-Hallum initiated coverage of Sophia Genetics (SOPH) with a Buy rating and $11 price target The firm notes Sophia Genetics provides outsourced analytics for next-generation sequencing testing, demand for which should grow due to the increasing quantity and complexity of NGS data. Sophia Genetics is a SaaS company without a SaaS multiple, and Craig-Hallum believes that will change as new products drive reaccelerating growth in 2025 and 2026, with growth inflecting in Q4 2024 after a challenging year.
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