To say it’s all coming collectively properly for Bionano Genomics (BNGO) could be a little bit of an understatement. The life sciences firm’s rise has been significantly eye-catching; Over the previous 2 months, BNGO has surged by a panoramic 2,344%. Traders have evidently gotten clever to the chance Bionano represents on the earth of cytogenetics and genomics, as a result of potential of its genome imaging system, Saphyr. Maxim analyst Jason McCarthy was an early supporter of the corporate whereas hardly anybody else was trying, and the latest surge in curiosity (and share value) has solely confirmed his bullish name. “Consciousness, adoption and messaging in 2019 and 2020 culminated with a cytogenetics symposium that has opened the eyes of the genomics world to Saphyr, in our view,” the 5-star analyst mentioned. “It is by no means been about competing with sequencing (Saphyr will not be a sequencer!), it is about finishing the genomic interrogation puzzle that sequencing can’t, and that is the worth in BNGO.” The just lately accomplished 5-day symposium had 33 displays from “main hospitals and medical analysis establishments” who’ve used Saphyr, and amounted to the most important showcase of the expertise, to date. McCarthy notes the symposium highlighted “each the significance of Saphyr in genomics, and the platform adoption Bionano has pushed over the previous few years.” Adoption – or reaching “crucial mass” as McCarthy defines it – is a self-feeding loop. The rising consciousness of Saphyr will drive additional adoption, which, in flip, will “drive income development.” Nonetheless, whereas adoption has elevated, the analyst warns of getting too far forward, too quickly, and dropping sight of “the forest for the timber.” The analyst believes Bionano will not be “fairly able to be benchmarked quarter-to-quarter.” To realize “crucial mass,” the main focus this yr ought to be on “working with end-users to develop extra checks for hematological malignancies, genetic issues, and pre-natal testing, in addition to different checks.” Moreover, to hurry up the change to utilizing Saphyr, an enormous precedence ought to be reserved to working with end-users and payers to determine reimbursement for lab checks. These objectives ought to be simpler to attain, following two latest strategic fairness financings which boosted Bionano’s stability sheet by $300 million. So, all excellent news for Bionano, however what does it imply for buyers? All in all, McCarthy reiterated a Purchase score and boosted his value goal by a large 600% from $2 to $14. Upside from present ranges is 11%. (To look at McCarthy’s monitor file, click on right here) 2 different analysts have just lately reviewed Bionano’s prospects, 1 concluding the inventory is a Purchase and the opposite saying Maintain, all collectively coalescing to a Average Purchase consensus score. The unimaginable surge has left the analysts taking part in catch up; At $5.42, the common value goal suggests shares will decline ~57% over the following 12 months. (See BNGO inventory evaluation on TipRanks) To seek out good concepts for healthcare shares buying and selling at enticing valuations, go to TipRanks’ Finest Shares to Purchase, a newly launched instrument that unites all of TipRanks’ fairness insights. Disclaimer: The opinions expressed on this article are solely these of the featured analyst. The content material is meant for use for informational functions solely. It is rather essential to do your individual evaluation earlier than making any funding.