Grail price target raised to $85 from $75 at Canaccord

Canaccord analyst Kyle Mikson raised the firm’s price target on Grail (GRAL) to $85 from $75 and keeps a Buy rating on the shares. The firm said they remain bullish following relatively positive study results and over $400 million (pending) added to the company’s balance sheet, recognizing multiple questions remain regarding the perspective of regulators and clinicians. They also noted that after the market close on Friday, October 17, the company announced the performance and safety results from its registrational PATHFINDER 2 study and saidalthough the data improved from PATHFINDER 1, it is unclear if it will be adequate for FDA approval.