Natera price target raised to $64 from $56 at Goldman Sachs

Goldman Sachs analyst Matthew Sykes raised the firm’s price target on Natera (NTRA) to $64 from $56 and keeps a Buy rating on the shares after the company won a preliminary injunction in a patent infringement lawsuit against NeoGenomics (NEO) that restricts future sales of their RaDaR MRD assay. Similar to the injunction against Invitae (NVTA), where Natera enforced a separate patent, NeoGenomics will be allowed to continue to offer their RaDaR assay for existing patients and for clinical trials and projects already underway, the firm noted. The firm believes these injunctions in the near term further solidify Natera’s patent estate in MRD and potentially allow for further market share gains and the firm raised its multiple on Natera shares to reflect updated peer comparables and more clarity around the MRD competitive landscape.