During an earnings call, company executives discussed plans to grow reimbursement of new tests, stabilize pricing, and save costs through a number of projects.
The company is expecting $14.3 million in Q2 revenues, a 157 percent increase over the same quarter last year.
The investment bank, which maintained its $60 price target for the company's stock, said it is looking for signs of revenue acceleration.
The company also said it has closed a new $25 million debt facility, and will use the proceeds to retire outstanding debt and bolster the launch of AlloSure.
The company also reported that its preliminary full-year 2016 revenues rose 27 percent year over year, thanks to steady sales in its QuickFISH business.
The company also reported it completed 244,000 Cologuard tests during 2016, a 134 percent increase from 2015.
The company said it expects revenues of $52 million to $53 million for the quarter, compared to analysts' average estimate of $63.1 million.
The company said it expects a 1 percent increase in 2016 revenues, but noted that the results were adversely affected by certain competitive pressures in Q4, among other problems.
The South San Francisco, California-based firm said instrument revenues fell 39 percent, driven by lower-than-average sales of its Helios mass cytometry system.
The company missed its expectations due to declining orders for its HiSeq 2500 and HiSeq 4000 instruments and one fewer order for its HiSeq X Ten system.
The Jackson Laboratory has filed a complaint accusing Nanjing University of breeding and re-selling its mouse models, the Hartford Courant reports.
Oxford researchers are turning to virtual reality to visualize genes and regulatory elements, Phys.org says.
In Science this week: neutrophils rely on microRNA to protect against lung inflammation, and more.
China is moving forward with plans to sequence a million citizens, the Wall Street Journal reports.