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Cantor Fitzgerald raised its price target on Prenetics stock (NASDAQ:PRE) to $14.00 from $13.00 on Monday, while maintaining an Overweight rating following the company’s first-quarter 2025 financial results. The new target represents a 100% upside from the current price of $7.01. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimate.
Prenetics reported revenue from continuing operations of $17.3 million for the quarter, representing year-over-year growth of approximately 170%. The strong performance was primarily driven by the company’s IM8 and Europa business lines, with IM8 contributing approximately $5.7 million in revenue following its commercial launch at the end of the fourth quarter of 2024. InvestingPro data shows the company has maintained impressive growth, with trailing twelve-month revenue growth of 78.7% and a healthy current ratio of 2.07x.
The company expects IM8 revenue to increase by approximately 50% in the second quarter as it continues to expand its customer base. Prenetics also remains focused on divesting its ACT Genomics business and plans to convert its balance sheet to cryptocurrency.
Cantor Fitzgerald noted that Prenetics increased its guidance for 2025, positioning the company for strong revenue growth while working toward breaking even. The research firm highlighted that Prenetics is currently trading at 0.6 times enterprise value to estimated 2025 revenue, compared to slower-growing peers trading at 6.1 times. With a price-to-book ratio of just 0.57x and a market capitalization of $91.37 million, InvestingPro analysts identify significant potential upside for value investors.
The price target increase reflects Cantor Fitzgerald’s confidence in Prenetics’ growth trajectory, particularly following the successful launch of IM8 and the company’s improved financial outlook for the remainder of 2025.
In other recent news, Prenetics reported significant financial results for the first quarter of 2025, with revenue from continuing operations reaching $17.3 million, marking a year-over-year growth of approximately 170%. This growth was largely driven by Prenetics’ IM8 and Europa business lines, with the IM8 line contributing around $5.7 million following its commercial launch. In light of these results, Cantor Fitzgerald raised its price target for Prenetics from $13 to $14, maintaining an Overweight rating on the stock. The company has also increased its guidance for 2025, though specific figures were not disclosed, and it remains committed to divesting its ACT Genomics business. Furthermore, Prenetics plans to convert its balance sheet to cryptocurrency assets. Cantor Fitzgerald pointed out that Prenetics is trading at 0.6 times enterprise value to estimated 2025 revenue, suggesting the shares may be undervalued compared to peers. Meanwhile, in the medical devices sector, Cantor Fitzgerald noted varying performances, with Elutia emerging as a top performer, while Anteris Technologies faced a decline. The sector’s dynamics continue to be closely monitored by analysts, providing insights into broader healthcare market trends.
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