Grail initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Grail (GRAL) with an Equal Weight rating and $16 price target The company’s Galleri multi-cancer early detection screening test has the potential to address a significant unmet need, the analyst tells investors in a research note. The firm says that while Grail’s cash preservation efforts are encouraging, with Medicare reimbursement, the key catalyst to unlocking share value, essentially a 2027 dynamic, the stock’s near-term risk/reward is balanced.