Analyst Michael Matson of Needham maintained a Buy rating on Personalis (PSNL – Research Report), retaining the price target of $3.50.
Michael Matson has given his Buy rating due to a combination of factors surrounding Personalis, Inc. (PSNL). During a fireside chat at the 23rd Annual Needham Healthcare Conference, Personalis’s management showcased their NeXT Personal assay, emphasizing its potential in securing reimbursement for three critical indications. These indications include lung cancer, breast cancer, and immunotherapy monitoring, where the need for ultra-sensitive ctDNA detection is particularly significant. The company’s strategic focus on these areas appears to be a strong point in Matson’s optimistic assessment of PSNL’s stock.
Furthermore, Matson’s positive outlook is reinforced by the growth prospects of Personalis’s Biopharma business. The company is not only expanding its business but is also effectively leveraging its existing relationships with other cancer testing service providers to enhance the visibility and adoption of its NeXT platform assays. By focusing on these synergistic partnerships, PSNL is positioning itself to capitalize on the growing demand for advanced cancer testing solutions, which supports the Buy rating assigned by Matson.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSNL in relation to earlier this year.
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Personalis (PSNL) Company Description:
Personalis, Inc. provides genomic sequencing and analytics solutions to support the development of personalized cancer vaccines and other next-generation cancer immunotherapies. The company was founded by Euan A. Ashley, Michael Snyder, Atul J. Butte, John S. West, and Russ B. Altman in 2011 and is headquartered in Menlo Park, CA.
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