To say it’s all coming collectively properly for Bionano Genomics (BNGO) can be a little bit of an understatement. The life sciences firm’s rise has been notably eye-catching; Over the previous 2 months, BNGO has surged by a panoramic 2,344%. Traders have evidently gotten smart to the chance Bionano represents on the planet 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 current 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 stated. “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 shows from “main hospitals and medical analysis establishments” who’ve used Saphyr, and amounted to the most important showcase of the know-how, up to now. 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 “vital 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 bushes.” The analyst believes Bionano will not be “fairly able to be benchmarked quarter-to-quarter.” To achieve “vital mass,” the main focus this 12 months ought to be on “working with end-users to develop extra assessments for hematological malignancies, genetic problems, and pre-natal testing, in addition to different assessments.” Moreover, to hurry up the change to utilizing Saphyr, a giant precedence ought to be reserved to working with end-users and payers to ascertain reimbursement for lab assessments. These objectives ought to be simpler to attain, following two current strategic fairness financings which boosted Bionano’s steadiness sheet by $300 million. So, all excellent news for Bionano, however what does it imply for buyers? All in all, McCarthy reiterated a Purchase ranking and boosted his value goal by an enormous 600% from $2 to $14. Upside from present ranges is 11%. (To look at McCarthy’s monitor document, 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 Reasonable Purchase consensus ranking. The unimaginable surge has left the analysts enjoying 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’ Greatest Shares to Purchase, a newly launched software 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 vitally essential to do your personal evaluation earlier than making any funding.