The investment bank gave the liquid biopsy company a price target of $90 and said that it views Guardant as the field leader.
Canaccord said Meridian Bioscience's preannounced second quarter top-line miss and expected ongoing weakness in its MDx business were among the reasons for the downgrade.
UBS granted Agilent a Buy rating and a $92 price target; Fluidigm a Neutral rating and a $14 price target; and Qiagen a Neutral rating with a $42 price target.
The company is currently conducting clinical studies to validate AlloSure's technology — which underlies its kidney transplant test — in lung transplant patients.
The firm's diagnostics and genomics group saw a 13 percent year-over-year revenue increase in the first quarter.
The investment bank said the company is strongly positioned as a leader in the transplant diagnostics market with tests that serve an unmet need.
An analyst said the DetermaVu test could potentially be best in class for lung cancer diagnosis and that CMS could begin reimbursing for it in late 2020.
The index fell more than 11 percent in December, underperforming the Dow and the Nasdaq, but performing on par with the Nasdaq Biotechnology Index.
The investment bank called Genomic Health a leader in diagnostic testing and said Invitae will benefit from growth trends in the genetic testing sector.
There were more mergers and acquisitions in the omics space in 2018, reversing the decline experienced in 2017.
The New York Times Magazine examines gender discrimination at the Salk Institute.
Science reports that MD Anderson Cancer Center has dismissed three researchers over foreign tie concerns.
A second death in gene therapy trial for type 1 spinal muscular atrophy is under investigation, according to Reuters.
In PLOS this week: antibiotic resistance patterns in Escherichia coli, a dozen genetic loci tied to varicose vein risk, and more.