William Blair Maintains Market Perform On Bio-Reference Laboratories Shares


In a research report issued today, William Blair analyst Amanda Murphy maintained a Market Perform rating on Bio-Reference Laboratories (NASDAQ:BRLI). No price target was provided.

Murphy observed, “Bio-Reference has had solid revenue growth (roughly 20% CAGR) despite a challenging reimbursement environment, driven by double-digit volume growth, most notably in GeneDx. Further, management has reiterated that (at least in the near term) the reimbursement environment for the lab space has stabilized. One area of concern that is difficult to ascertain is the potential for cash collection issues given there is not a reimbursement infrastructure in place for higher-end genetic tests (i.e., exome sequencing and panels) performed at GeneDx. We are maintaining our Market Perform rating until we gain more visibility into improvements in cash collection trends as well reimbursement for more complex genetic testing, particularly given the next-generation sequencing codes that CMS is introducing next year.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Amanda Murphy has a total average return of 2.1% and a 57.1% success rate. Murphy is ranked #2108 out of 3284 analysts.

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