Canaccord Genuity Maintains a Buy Rating on Natera (NTRA)

By Carrie Williams

Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Natera (NTRAResearch Report) yesterday and set a price target of $38. The company’s shares closed last Monday at $30.55, close to its 52-week high of $33.55.

Massaro commented:

“We recently had the privilege of hosting Natera CEO Steve Chapman and CFO a well-attended fireside chat at the 39th in Boston. We continue to view NTRA as an undervalued cancer company trading at the multiple of an NIPT company. NTRA remains one of our favorite stocks and is one of our top picks for 2019. We reiterate our BUY rating and $38 PT. Signatera may be a game-changer in recurrence monitoring and MRD.”

According to TipRanks.com, Massaro is a top 100 analyst with an average return of 21.4% and a 63.6% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Castle Biosciences Inc.

Currently, the analyst consensus on Natera is a Strong Buy with an average price target of $37.50.

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Based on Natera’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $32.42 million. In comparison, last year the company had a GAAP net loss of $33.82 million.

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Natera, Inc. engages in the discovery, development, and commercialization of genetic testing services. It offers Panorama Non-Invasive Prenatal Test, Horizon Carrier Screening, Spectrum Pre-implantation Genetic Screening and Spectrum Pre-implantation Genetic Diagnosis, Anora Products of Conception and Non-Invasive Paternity Testing.