23andMe Holding (ME – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst David Lebovitz from Citi remains neutral on the stock and has a $0.90 price target.
Geoff Meacham has given his Hold rating due to a combination of factors concerning 23andMe’s recent developments and the company’s performance in its clinical trials. The expansion of the Phase 1/2a study to include more patients suggests potential for growth in the company’s research, yet there are considerations that temper immediate optimism. Specifically, while the drug being tested was well-tolerated at higher doses without reaching a maximum tolerated dose, there were still notable treatment-emergent adverse events that could raise concerns about its widespread applicability and future regulatory hurdles.
Additionally, the introduction of a second dose for evaluation indicates that the optimal dosing is still being determined, which adds an element of uncertainty to the trial outcomes. The financial analyst’s expectation of a 4.7% share price return reflects a cautious optimism, balanced by the risks inherent in the ongoing clinical trials. It’s this balance of potential against risk that underlies the Hold rating, suggesting that while there may be positive developments on the horizon for 23andMe, there are also significant challenges that could impact the company’s performance and valuation.
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23andMe Holding (ME) Company Description:
VG Acquisition Corp is a blank check company.
Read More on ME:
- 23andMe announces further expansion of 23ME-00610 Phase 1/2a clinical trial in advanced neuroendocrine and ovarian cancer patient cohorts
- 23andMe expects tp incur $1M-$2M in expenses from data breach
- 23andMe price target lowered to 90c from $1.75 at Citi
- 23andMe price target lowered to $3 from $5 at TD Cowen
- 23andMe launches Total Health, a new health membership
