Cancer Genetics Shares Rally As Feltl Analyst Getting More Bullish

Shares of Cancer Genetics

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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