Grail upgraded to Buy at Guggenheim on Galleri’s leading MCED market position

As previously reported, Guggenheim analyst Subbu Nambi upgraded Grail (GRAL) to Buy from Neutral with a $100 price target While the firm acknowledges that Galleri is “not a perfect test” and “may not be the holy grail of cancer detection,” the firm says it is still the leading commercially available MCED test and sees it having a significant prospective data moat compared to competitors. Though there are still meaningful unknowns around Medicare reimbursement for MCEDs and regulatory approvals, the firm says it “cannot ignore the opportunity” and Galleri’s leading MCED market position.