William Blair starts prostate cancer ‘pure-play’ MDxHealth at Outperform

William Blair initiated coverage of MDxHealth with an Outperform rating and no price target. The company is a well positioned "pure-play" asset in prostate cancer diagnostics, with upcoming catalysts to drive shares higher, the analyst tells investors in a research note. The firm says MDxHealth is the only public diagnostics company focused solely on the urology channel to offer prostate cancer-specific tests at major junctures of the patient odyssey. It believes the company’s expanded salesforce, rep productivity increases, and upcoming catalyst for Select mdx reimbursement should "further unlock" a large growth opportunity.