NEW YORK – Equity research firm Wolfe Research said on Monday that it has initiated coverage of Hologic with a Peer Perform rating, while it launched coverage of Tempus and Twist Bioscience with Outperform ratings at a $60 price target on those two firms' stock.
Analyst Doug Schenkel said in a note to investors that Chicago-based Tempus, which is a developer of artificial intelligence-based tests, has a broad and growing menu that is used for clinical testing and the gathering of genetic and phenotypic data. South San Francisco, California-based Twist Bioscience, meanwhile, has developed a novel platform to synthesize DNA and attach customizable DNA fragments to a silicon chip, it said.
The equity research firm also noted that Marlborough, Massachusetts-based Hologic is a global diagnostics and med tech firm with focus areas of early detection and treatment of disease and women's health. Schenkel did not set a target for the firm's share price.
He noted that he is taking a cautious approach in the evaluation of investment opportunities despite observing reasons for optimism during transitory headwinds.
Wolfe also initiated coverage in November of Grail with a Peer Perform rating and Veracyte with an Outperform rating.