Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Natera (NTRA) today and set a price target of $32. The company’s shares closed yesterday at $24.67.
Massaro noted:
“We reiterate NTRA as a top pick following the company’s announcement of a 3,000 patient, multi-center, prospective study to evaluate its Prospera test for kidney transplant rejection. Natera is executing well in its base NIPT business (and the ACOG catalyst is still alive and well) and is making strong advancements in its oncology and transplant pipeline. Despite its +77% return YTD, we believe NTRA is undervalued at just 4.5x our FY’20 revenues, below our peer group at 6.6x. Reiterate BUY, raise our PT to $32. NTRA’s kidney test, Prospera. Natera’s Prospera test uses 13,926 SNPs to quantify dd-cfDNA in transplant recipients without separate genotyping of donor or recipient, vs. organ transplant rejection testing market leader CareDx’s AlloSure assay, which uses 266 SNPs.”
According to TipRanks.com, Massaro is a top 100 analyst with an average return of 20.4% and a 63.1% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Quanterix Corporation.
Natera has an analyst consensus of Strong Buy, with a price target consensus of $28, implying a 13.5% upside from current levels. In a report issued on June 10, Piper Jaffray also maintained a Buy rating on the stock with a $28 price target.
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The company has a one-year high of $29.62 and a one-year low of $11.08. Currently, Natera has an average volume of 707.1K.
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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.