Bionano Genomics price target raised to $4 from $1 at Scotiabank

Scotiabank raised the firm’s price target on Bionano Genomics (BNGO) to $4 from $1 and keeps a Sector Perform rating on the shares. Despite the challenging macroeconomic environment in 2024, there were “bright spots” for the company, such as double-digit growth for Consumables and Software revenues, the analyst tells investors. The firm is favoring the sidelines until it has better visibility into the company’s near- to medium-term growth potential.