Roth Capital Thinks BioNano Genomics’ Stock is Going to Recover

By George MacDonald

Roth Capital analyst Scott Henry reiterated a Buy rating on BioNano Genomics (NASDAQ: BNGO) on April 22 and set a price target of $1.00. The company’s shares closed last Wednesday at $0.48, close to its 52-week low of $0.25.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BioNano Genomics with a $2.25 average price target, implying a 384.7% upside from current levels. In a report issued on April 8, Oppenheimer also initiated coverage with a Buy rating on the stock with a $1.50 price target.

According to TipRanks.com, Henry is a 2-star analyst with an average return of 0.0% and a 40.8% success rate. Henry covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, BioSig Technologies, and BioDelivery.

The company has a one-year high of $4.70 and a one-year low of $0.25. Currently, BioNano Genomics has an average volume of 5.08M.

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.