Oppenheimer Research Analysts Increase Earnings Estimates for Personalis (NASDAQ:PSNL)

Personalis (NASDAQ:PSNL) – Research analysts at Oppenheimer upped their Q2 2020 earnings per share estimates for Personalis in a note issued to investors on Wednesday, June 24th. Oppenheimer analyst K. Degeeter now forecasts that the company will post earnings of ($0.32) per share for the quarter, up from their previous estimate of ($0.34). Oppenheimer currently has a “Buy” rating and a $24.00 target price on the stock. Oppenheimer also issued estimates for Personalis’ FY2020 earnings at ($1.30) EPS.

Personalis (NASDAQ:PSNL) last released its earnings results on Thursday, May 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Personalis had a negative net margin of 40.60% and a negative return on equity of 26.28%. The company had revenue of $19.16 million during the quarter, compared to analysts’ expectations of $16.80 million.

A number of other research firms also recently issued reports on PSNL. BidaskClub downgraded shares of Personalis from a “strong-buy” rating to a “buy” rating in a report on Friday, May 29th. Morgan Stanley boosted their price objective on shares of Personalis from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. ValuEngine upgraded shares of Personalis from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. Finally, Zacks Investment Research downgraded shares of Personalis from a “hold” rating to a “sell” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $20.20.

Personalis stock opened at $12.97 on Monday. Personalis has a 1 year low of $4.27 and a 1 year high of $27.59. The firm has a 50 day moving average price of $12.37 and a 200 day moving average price of $10.17. The company has a market cap of $403.99 million and a price-to-earnings ratio of -8.06.

In other news, major shareholder Lightspeed Venture Partners Se bought 77,797 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $12.98 per share, for a total transaction of $1,009,805.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in PSNL. JPMorgan Chase & Co. boosted its stake in shares of Personalis by 51.0% in the first quarter. JPMorgan Chase & Co. now owns 1,570,978 shares of the company’s stock valued at $12,678,000 after purchasing an additional 530,936 shares during the period. BlackRock Inc. boosted its stake in shares of Personalis by 46.1% in the first quarter. BlackRock Inc. now owns 1,512,804 shares of the company’s stock valued at $12,208,000 after purchasing an additional 477,674 shares during the period. Wellington Shields & Co. LLC purchased a new position in shares of Personalis in the fourth quarter valued at $5,075,000. Alyeska Investment Group L.P. purchased a new position in shares of Personalis in the fourth quarter valued at $4,417,000. Finally, Wellington Shields Capital Management LLC boosted its stake in shares of Personalis by 98.8% in the first quarter. Wellington Shields Capital Management LLC now owns 549,842 shares of the company’s stock valued at $4,437,000 after purchasing an additional 273,260 shares during the period. Institutional investors and hedge funds own 60.92% of the company’s stock.

About Personalis

Personalis, Inc operates as a cancer genomics company worldwide. The company provides sequencing and data analysis services to support the development of cancer therapies. It offers NeXT platform, a clinical-grade, next generation sequencing and analysis platform that enables the development of ImmunoID NeXT tumor biopsy and liquid biopsy, as well as provides analysis of tumor and immune microenvironment from a single limited tissue sample, tumor molecular profiling for cancer patients, and anticipates future cancer biomarkers.

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