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Investing.com - Needham raised its price target on Insight Molecular Diagnostics Inc. (NASDAQ:IMDX) to $9.00 from $4.25 while maintaining a Buy rating on the stock. The new target represents potential upside from IMDX’s current price of $6.80, with the stock already showing impressive momentum - up 135% over the past year according to InvestingPro data.
The research firm cited the successful launch of IMDX’s GraftAssureIQ research use only test and continued progress in signing transplant centers ahead of the planned GraftAssureDx Kidney kitted test launch in mid-2026, pending FDA clearance.
IMDX has advanced to Phase 3 of its development program, which includes a validation trial of approximately 125 patients. The company has signed on 19 transplant centers as of the third quarter of 2025, with 11 involved in its trial, and aims to have at least 20 centers by year-end.
The company also announced a 5,000-patient registry utilizing its GraftAssureCore laboratory developed test, which Needham notes could generate additional revenue for IMDX.
IMDX ended the third quarter with approximately $20.2 million in cash and continues to manage its cash burn, though Needham indicates the company may exceed its target of approximately $6 million per quarter in the fourth quarter of 2025. InvestingPro data shows IMDX holds more cash than debt and maintains a healthy current ratio of 4.04, though analysts don’t expect profitability this year. For comprehensive analysis of IMDX and 1,400+ other stocks, check out the detailed Pro Research Reports available with an InvestingPro subscription.
In other recent news, Insight Molecular Diagnostics reported its third-quarter 2025 earnings, highlighting a stable financial position with $20 million in cash and no debt. The company’s financial results did not include any immediate earnings or revenue beats, yet the report seemed to reflect investor optimism. Insight Molecular Diagnostics is advancing its transplant monitoring tests, which are anticipated to contribute to future growth. Despite the absence of significant earnings surprises, the company’s stable cash position is noteworthy. No major mergers or acquisitions were reported during this period. Analysts have not provided any upgrades or downgrades for the company’s stock recently. These developments indicate a period of stability for Insight Molecular Diagnostics.
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