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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSNL:
- Personalis price target raised to $11 from $9 at H.C. Wainwright
- Personalis receives $50M investment from Merck, extends pact with Moderna
- Cathie Wood’s ARK Investment bought 358.6K shares of Personalis today
- Personalis and Tempus AI extend commercial deal to biopharma industry
- Cathie Wood’s ARK Investment bought 266.8K shares of Personalis today