Street Calls of the Week
Investing.com - Canaccord Genuity has reiterated its Buy rating and $200.00 price target on Natera (NASDAQ:NTRA), citing strong performance of the company’s minimal residual disease (MRD) business. The molecular diagnostics company, now valued at $26.7 billion, has demonstrated impressive momentum with a 52% stock return over the past year and revenue growth of 44% in the last twelve months.
The reaffirmation follows Natera’s October 20 announcement of results from the randomized phase 3 IMvigor011 clinical trial in muscle-invasive bladder cancer (MIBC), which demonstrated that its Signatera test can effectively guide the use of adjuvant atezolizumab (Tecentriq) in MIBC patients.
These findings were presented at the European Society for Medical Oncology (ESMO) Congress, with Natera management and the trial’s Lead Principal Investigator, Professor Thomas Powles, discussing the results during an October 23 conference call.
Canaccord believes Signatera has extended its lead in MRD testing across all cancer types, positioning Natera for significant long-term growth potential.
The research firm maintains that current NTRA share prices do not fully reflect the company’s future growth trajectory based on these developments.
In other recent news, Natera has reported several significant developments. The company announced positive clinical trial results for its Signatera test in muscle-invasive bladder cancer, which led BTIG to raise its price target for Natera to $210, maintaining a Buy rating. Meanwhile, Canaccord Genuity has upheld its Buy rating and a $200 price target, emphasizing Natera’s leadership in molecular residual disease testing ahead of its presentations at the European Society for Medical Oncology Congress. Additionally, Natera has enrolled over 1,600 patients in the EXPAND trial, focusing on its Fetal Focus noninvasive prenatal test for inherited conditions.
The company’s Signatera test has also demonstrated superior performance compared to standard markers in a study involving testicular cancer patients, as published in the Journal of Clinical Oncology - Precision Oncology. Furthermore, new study results have validated the Signatera test for monitoring recurrence and treatment response in early-stage uterine cancer patients, adding to the test’s credibility. These findings highlight Natera’s ongoing efforts to advance its testing capabilities across various cancer types.
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