The bank believes investors are too focused on the potential of PacBio's merger with Illumina falling through rather than recent developments regarding its technology.
The genetic testing firm has entered into an equity distribution agreement with Piper Jaffray to offer up to $30 million in stocks, with an initial offering of $22.5 million.
The investment bank cited management confidence in US and European test growth as meriting the upgrade, which was necessary to maintain a current $72 price target on the firm's stock.
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.
NEW YORK (GenomeWeb) – Piper Jaffray and Mizuho Securities today initiated coverage of transplant molecular diagnostics firm CareDx with bullish views of the company's stock and market opportunities for its tests.
NEW YORK (GenomeWeb) – Investment bank Piper Jaffray on Thursday initiated coverage of Veracyte with an overweight rating on the firm's stock and a $21 price target.
NEW YORK (GenomeWeb Daily News) — Speaking at Piper Jaffray's annual healthcare conference today, members of Qiagen's management team provided investors with a recap of recent business activities and a glimpse of what's to come.
The US Food and Drug Administration is to announce stricter standards for emergency authorizations of SARS-CoV-2 vaccines, reports the Washington Post.
