BioNano Genomics Stock (BNGO): $14 Price Target From Oppenheimer

By Amit Chowdhry ● Jan 2, 2022
  • The shares of BioNano Genomics Inc (NASDAQ: BNGO) have received a $14 price target from Oppenheimer. These are the details.

The shares of BioNano Genomics Inc (NASDAQ: BNGO) have received a $14 price target from Oppenheimer. These are the details. And Oppenheimer analyst Kevin DeGeeter assigned the company an “Outperform” rating.

DeGeeter pointed out that Bionano Genomics is on tracking for meeting or exceeding its 2021 Saphyr placement goal of over 150. And DeGeeter also noted that multiple clinical validation studies to support reimbursement are enrolling well and commercial adoption is leading to higher consumable pull-through that should impact the fourth quarter and 2022.

On the last point, DeGeeter spoke to management regarding disclosure regarding accreditation of University Hospitals Leuven in Belgium, which should drive an uptick in consumables beginning in the fourth quarter. And DeGeeter also explained Leuven is one of several European labs completing accreditation with each high-volume lab expected to process 300-500 samples annually at $400-$500 per sample.

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