Maxim Group Keeps Their Buy Rating on BioNano Genomics (BNGO)


In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on BioNano Genomics (BNGO), with a price target of $3.00. The company’s shares closed last Monday at $1.05, close to its 52-week low of $0.50.

According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.6% and a 24.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Hancock Jaffe Laboratories, and Lineage Cell Therapeutics.

BioNano Genomics has an analyst consensus of Moderate Buy, with a price target consensus of $3.00.

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Based on BioNano Genomics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.4 million. In comparison, last year the company had a GAAP net loss of $4.93 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.

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