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NEW YORK – Investment bank Piper Sandler announced Tuesday it is initiating coverage of newly public women's health diagnostic firm Progenity.

Analyst Steven Mah rated Progenity an Overweight with a $17 price target in an analyst note sent to investors. In a research note, he said the company's preeclampsia test will "differentiate Progenity by allowing coverage of the full spectrum of reproductive testing," and noted that Progenity has a top-3 position in testing volume for NIPT and carrier screening.

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