In a report released yesterday, Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on Natera, with a price target of $200.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight Natera’s strong position in the minimal residual disease (MRD) market. The company’s Signatera test has shown significant impact in guiding cancer treatment, particularly in muscle-invasive bladder cancer (MIBC), as evidenced by the results of the IMvigor011 study. This study demonstrated that Signatera can effectively guide the use of adjuvant atezolizumab, potentially changing clinical practice and leading to guideline inclusion and FDA approval as a companion diagnostic.
Furthermore, the data from IMvigor011, which may be considered ‘level 1’ evidence, suggests that Signatera’s ctDNA testing could outperform traditional biomarkers and have broader implications beyond MIBC. Natera’s extensive dataset and potential FDA approval create a competitive moat, making it difficult for competitors to disrupt their position in the MRD market. Additionally, Natera’s comprehensive portfolio of MRD solutions, including advanced versions of Signatera, supports the company’s long-term growth potential, which is not yet fully reflected in its current share price.
According to TipRanks, Mikson CFA is an analyst with an average return of -3.7% and a 35.22% success rate. Mikson CFA covers the Healthcare sector, focusing on stocks such as Natera, Pacific Biosciences, and Biodesix.
In another report released yesterday, BTIG also reiterated a Buy rating on the stock with a $210.00 price target.