This time last 12 months, shares of Bionano Genomics (BNGO) had been in the midst of a single almighty tear, as the sector seized on the prospect of its optical genome mapping (OGM) method Saphyr to disrupt the cytogenetics room.
A repeat of the rally is extremely not likely – shares went all the way from $.5 in December 2020 to $14.54 in mid-Feb 2021 – but nevertheless the corporation has been building constant development given that.
In reality, about the earlier week, Bionano had various parts of great news.
First off, the corporation introduced interim results from the ongoing multi-internet site, double-blinded review for submit-natal/pediatric samples. The examine hopes to build OGM as portion of standard of treatment (SOC) in the analysis of genetic condition for postnatal people. OGM showed a 97.7% all round concordance with SOC assays together with karyotype, FISH, and/or CMA (214/219 sample operates). There was also a concordance with SOC for pathogenic variant phone calls of 100% [219 out of 219 samples].
Oppenheimer’s Kevin DeGeeter views the interim details as a “significant de-jeopardizing party for US reimbursement.” The future interim update will see info from far more affected person samples (>500) included when industrial feasibility endpoints will also be highlighted. So will excess situation studydata evaluating OGM’s aptitude in the detection of SVs.
Later on in the week, the company also supplied optimistic preliminary 4Q21 final results. Bionano now has an mounted based of 164 Saphyr techniques, subsequent 23 internet placements in the quarter. DeGeeter had anticipated just 15. In whole, 4Q21 income is predicted in the $5.8–6.2 million array. DeGeeter’s estimate is at the low conclude, at $5.8 million, though earlier mentioned consensus, which identified as for $5.4 million. The analyst sees doable upside from consumables revenue. Income for comprehensive-calendar year 2021 is expected to appear in between $17.5–17.9 million.
The corporation hasn’t offered assistance for 2022, but the analyst considers the Street’s forecast of $29.3 million as “potentially intense.” DeGeeter’s forecast phone calls for $26 million.
The analyst sees a number of developments supporting 2022’s outlook. These include: “1) 4Q21 development in Saphyr placements 2) consumables from higher-volume labs next numerous LDTs validated 2H21 and 3) comprehensive 12 months of BioDiscovery income contributing ~$4.0M.”
DeGeeter could possibly feel the Street’s outlook is optimistic, but his outlook for the stock is very bullish. The 5-star analyst prices BNGO an Outperform (i.e., Invest in) and his $14 price tag target indicates share appreciation of a huge 451%. (To watch DeGeeter’s observe record, click on below)
Only two other analysts have posted opinions in excess of the past 3 months, but they are almost as effusive, furnishing the stock with a Robust Acquire consensus score and a $12 price target. (See Bionano stock forecast on TipRanks)
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Disclaimer: The thoughts expressed in this posting are exclusively those people of the highlighted analysts. The material is supposed to be utilized for informational purposes only. It is incredibly critical to do your own investigation right before generating any investment decision.