Fly News Breaks for November 14, 2019
Nov 14, 2019 | 09:27 EDT
Oppenheimer analyst Kevin DeGeeter lowered his price target for Personalis to $26 from $29 following the company's Q3 earnings report, saying the company provided the first granular guidance on how to think about growth outlook for its two operating segments. While total revenue guidance is roughly in line with his prior outlook, DeGeeter tells investors in a research note that the segment growth outlook "deviated materially" from his forecast and Street consensus. The analyst revised his outlook for revenue to $64.8M, $80.1M and $101.5M from $62.2M, $82.0M and $124.2M for 2019, 2020 and 2021, respectively, and maintains an Outperform rating.
News For PSNL From the Last 2 Days
Sep 20, 2021 | 05:53 EDT
Oncology revenue growth is now projected to be at least 50% above 2020. The company said, "We are extremely pleased with our on-going relationship with the VA MVP, which represents the largest whole genome sequencing project in the United States. Although this new task order is less than in pre-Covid years, we do expect this program to continue for many years to come, and to reaccelerate after the pandemic. In addition, our record oncology orders have largely offset the VA MVP order decline. Oncology orders received so far in Q3 have already exceeded the orders received in the first half of 2021, and are more than double our level in Q3 2020."
Sep 20, 2021 | 05:51 EDT
Personalis, announced that the U.S. Department of Veterans Affairs Million Veteran Program has issued a new task order under its current contract with the company, with a value of up to approximately $10M. The company also announced that it has received, so far in Q3, more than $25M in orders from its oncology customers, "a new record." Personalis said it has delivered over 140,000 whole human genomes to date, and "with this new task order remains on track to reach its goal of 150,000 by the end of 2021. "