Personalis (NASDAQ:PSNL) Price Target Increased to $7.00 by Analysts at BTIG Research

Personalis (NASDAQ:PSNL) had its price target raised by equities researchers at BTIG Research from $5.50 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 16.86% from the company’s current price.

PSNL has been the subject of several other research reports. Needham & Company LLC upped their price objective on shares of Personalis from $5.50 to $7.25 and gave the company a “buy” rating in a research note on Friday. Lake Street Capital assumed coverage on shares of Personalis in a research note on Tuesday, April 30th. They set a “buy” rating and a $4.00 price objective for the company.

Personalis Stock Performance

Shares of PSNL stock traded up $0.92 on Friday, reaching $5.99. 6,294,217 shares of the company were exchanged, compared to its average volume of 665,089. The company has a market cap of $317.95 million, a price-to-earnings ratio of -3.15 and a beta of 1.85. The business has a 50-day moving average price of $2.26 and a 200 day moving average price of $1.71. Personalis has a 1 year low of $0.89 and a 1 year high of $7.20.

Personalis (NASDAQ:PSNL) last released its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. The business had revenue of $22.58 million during the quarter, compared to analysts’ expectations of $19.81 million. Personalis had a negative net margin of 101.78% and a negative return on equity of 56.87%. During the same quarter in the previous year, the company earned ($0.50) earnings per share. As a group, equities analysts anticipate that Personalis will post -1.17 earnings per share for the current year.

Hedge Funds Weigh In On Personalis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its position in Personalis by 6.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,057,956 shares of the company’s stock valued at $1,237,000 after buying an additional 66,128 shares during the period. ARK Investment Management LLC raised its holdings in shares of Personalis by 4.9% in the 2nd quarter. ARK Investment Management LLC now owns 6,361,886 shares of the company’s stock valued at $7,443,000 after purchasing an additional 296,413 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Personalis in the 1st quarter valued at $41,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Personalis by 144.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 821,657 shares of the company’s stock valued at $1,224,000 after purchasing an additional 485,822 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Personalis in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 61.91% of the company’s stock.

Personalis Company Profile

Personalis, Inc develops and markets advanced cancer genomic tests and analytics primarily in the United States, Europe, and the Asia-Pacific. Its tests and analytics are used by pharmaceutical companies for translational research, biomarker discovery, and development of personalized cancer therapies, as well as advanced tests are used by physicians to detect cancer recurrence, monitor cancer evolution, and uncover insights for therapy selection.