Personalis price target raised to $8 from $7 at BTIG

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TipRanks

Sat, Dec 21, 2024, 4:30 AM 1 min read

BTIG raised the firm’s price target on Personalis (PSNL) to $8 from $7 and keeps a Buy rating on the shares. The company’s $50M investment from Merck (MRK) strengthens its balance sheet with another strategic partner and represents a major derisking event, the analyst tells investors in a research note. The firm also cites Personalis having extended their contract with Moderna (MRNA), which is now a 10-year contact and has two 5-year renewable options, adding that despite the higher move in the stock on the news, shares of PSNL trade at 2.5-times its enterprise value to expected 2026 revenue – below 3.7-times historical average.

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