Canaccord bullish on Natera growth potential as Medicare extends coverage

Canaccord reiterates a Buy rating on Natera shares and maintains price target of $87 after the company announced that its molecular residual disease, MRD, test, Signatera, has met coverage requirements from the Centers for Medicare & Medicaid Services’ Molecular Diagnostics Services Program, or MolDX, in the two new indications of ovarian cancer in the adjuvant and surveillance settings, and breast cancer in the neoadjuvant setting. The firm remains “bullish” on Natera’s growth potential and sees this news “further cementing the test’s leadership status,” the analyst tells investors.