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NantHealth Uses The Cloud To Offer Value, Drive Earnings Growth

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NantHealth Uses The Cloud To Offer Value, Drive Earnings Growth

Canaccord Genuity initiated coverage on NantHealth Inc (NASDAQ: NH) on Monday with a Buy rating and $17 price target.

As a main reason for the positive expectations, the analysts highlighted that the company is bringing to market an innovative cancer diagnostic test coupled with a cloud-based offering to drive increased value.

"With payers, self-insured employers, and provider organizations on-board to reimburse for GPS Cancer, the company's vision of connecting payers, providers, and patients on a next-generation technology platform to drive evidence-based, personalized treatment plans is coming to fruition," wrote Canaccord.

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According to the analysts, this unique offering will boost the revenues and earnings growth in coming years.

The estimates were made assuming penetration in the current customer base that will increase NantHeath's growth over the next four years. Analysts also added that any new announcement could serve as a potential upside driver for the company. Canaccord expects revenues to reach $53.3 million, $280.1 million and $723.7 million in 2016, 2017 and 2018 years, respectively.

Latest Ratings for NH

DateFirmActionFromTo
Nov 2017MaintainsBuy
Aug 2017MaintainsBuy
Aug 2017MaintainsBuy

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