This time final yr, shares of Bionano Genomics (BNGO) have been within the midst of 1 almighty tear, because the market seized upon the chance of its optical genome mapping (OGM) system Saphyr to disrupt the cytogenetics area.
A repeat of the rally is extremely unlikely – shares went all the best way from $0.5 in December 2020 to $14.54 in mid-Feb 2021 – however however the corporate has been making regular progress since.
In truth, over the previous week, Bionano had a number of items of excellent information.
First off, the corporate introduced interim outcomes from the continued multi-site, double-blinded examine for post-natal/pediatric samples. The examine hopes to determine OGM as a part of customary of care (SOC) within the prognosis of genetic illness for postnatal sufferers. OGM confirmed a 97.7% general concordance with SOC assays together with karyotype, FISH, and/or CMA (214/219 pattern runs). There was additionally a concordance with SOC for pathogenic variant calls of 100% [219 out of 219 samples].
Oppenheimer’s Kevin DeGeeter views the interim information as a “vital de-risking occasion for US reimbursement.” The following interim replace will see information from extra affected person samples (>500) included whereas industrial feasibility endpoints may even be featured. So will additional case studydata assessing OGM’s aptitude within the detection of SVs.
Later within the week, the corporate additionally supplied optimistic preliminary 4Q21 outcomes. Bionano now has an put in based mostly of 164 Saphyr methods, following 23 web placements within the quarter. DeGeeter had anticipated simply 15. In complete, 4Q21 income is anticipated within the $5.8–6.2 million vary. DeGeeter’s estimate is on the low finish, at $5.8 million, though above consensus, which known as for $5.4 million. The analyst sees doable upside from consumables income. Income for full-year 2021 is anticipated to come back in between $17.5–17.9 million.
The corporate hasn’t supplied steering for 2022, however the analyst considers the Road’s forecast of $29.3 million as “probably aggressive.” DeGeeter’s forecast requires $26 million.
The analyst sees a number of developments supporting 2022’s outlook. These embrace: “1) 4Q21 development in Saphyr placements; 2) consumables from high-volume labs following a number of LDTs validated 2H21; and three) full yr of BioDiscovery income contributing ~$4.0M.”
DeGeeter would possibly assume the Road’s outlook is optimistic, however his outlook for the inventory is extraordinarily bullish. The 5-star analyst charges BNGO an Outperform (i.e., Purchase) and his $14 worth goal implies share appreciation of an enormous 451%. (To observe DeGeeter’s observe file, click on right here)
Solely two different analysts have posted opinions over the previous 3 months, however they’re nearly as effusive, offering the inventory with a Robust Purchase consensus score and a $12 worth goal. (See Bionano inventory forecast on TipRanks)
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Disclaimer: The opinions expressed on this article are solely these of the featured analysts. The content material is meant for use for informational functions solely. It is extremely necessary to do your individual evaluation earlier than making any funding.