Cancer Genetics Shares Rally As Feltl Analyst Getting More Bullish
Shares of Cancer Genetics (NASDAQ: CGIX) are on the move Wednesday morning following some positive comments and a raised price target from Feltl & Co.'s Ben Haynor. The analyst now sees Cancer Genetics shares rising to $30.50 over the next year, up from $17.50 previously.
The Feltl analyst cited a recent meeting with the company's CEO Panna Sharma on a non-deal roadshow earlier this week. Haynor believes a number of factors validated Cancer Genetics' "platform and go-to-market strategy."
- Expanded relationship between the company and Roche for the ExpandDx community hospital program.
- Expected added patents for the typing, profiling of blood cancers.
- The company remains on track to unveil the MCL array, FHACT during the last few months of 2013.
- A belief by management the company is "e in the top tier of firms oncology sales specialists would come to, a distinct change from earlier in the year."
Haynor reiterated a Strong Buy rating on shares of Cancer Genetics.
The stock last traded at $20.67; shares pushed to a session high of $22.59. Haynor's new price target represents potential upside of nearly 50 percent from where the stock is currently trading.
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