Oppenheimer Issues a Buy Rating on BioNano Genomics (BNGO)

By Ryan Adsit

Oppenheimer analyst Kevin DeGeeter assigned a Buy rating to BioNano Genomics (BNGOResearch Report) today and set a price target of $15.00. The company’s shares closed last Tuesday at $8.37.

According to TipRanks.com, DeGeeter is a top 100 analyst with an average return of 54.6% and a 55.6% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Sensei Biotherapeutics, and Cellectar Biosciences.

BioNano Genomics has an analyst consensus of Strong Buy, with a price target consensus of $14.33.

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Based on BioNano Genomics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.2 million and GAAP net loss of $10.79 million. In comparison, last year the company earned revenue of $3.31 million and had a GAAP net loss of $6.4 million.

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BioNano Genomics, Inc. is a life sciences instrumentation company, which focuses on genome analysis space. The firm engages in the development and marketing of Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline cytogenetics. The company was founded by Han Cao in October 2003 and is headquartered in San Diego, CA.