Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Cantor Fitzgerald raised its price target on Prenetics (NASDAQ:PRE) to $14.00 from $13.00 on Friday, while maintaining an Overweight rating on the stock following the company’s first-quarter results. The stock, currently trading at $8.02, has shown strong momentum with a 38% gain year-to-date, though it remains well below the analyst target.
The genomics company reported revenue from continuing operations of $17.3 million in the first quarter of 2025, representing year-over-year growth of approximately 170%. This performance was primarily driven by Prenetics’ IM8 and Europa business lines. InvestingPro data shows the company maintaining strong growth momentum, with a trailing twelve-month revenue growth of 79% and a healthy current ratio of 2.07.
The IM8 product line contributed approximately $5.7 million in revenue during the quarter after its commercial launch at the end of the fourth quarter of 2024. Prenetics expects IM8 revenue to increase by approximately 50% in the second quarter as it expands its customer base.
Prenetics has also increased its 2025 guidance and remains committed to divesting its ACT Genomics business while working toward converting its balance sheet to cryptocurrency assets.
Cantor Fitzgerald noted that Prenetics is trading at 0.6 times enterprise value to estimated 2025 revenue, compared to slower-growing peers trading at 6.1 times, suggesting the shares are undervalued despite the company’s strong revenue growth trajectory. This assessment aligns with InvestingPro’s Fair Value analysis, which indicates the stock is currently undervalued. For more undervalued opportunities, visit our Most Undervalued Stocks list.
In other recent news, Prenetics reported strong first-quarter 2025 financial results, 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 $5.7 million following its commercial launch. Cantor Fitzgerald responded by raising Prenetics’ stock price target to $14 and maintained an Overweight rating. The company is also planning to divest its ACT Genomics business and convert its balance sheet to cryptocurrency. Cantor Fitzgerald noted that Prenetics is trading at 0.6 times its estimated 2025 revenue, suggesting potential undervaluation compared to peers. Meanwhile, in the medical devices sector, Elutia emerged as a top performer, while Anteris Technologies saw a decline, as highlighted by Cantor Fitzgerald. The firm also reported that MIMEDX Group Inc. experienced a significant surge in the fourth quarter of 2024, while Nyxoah SA faced challenges with a notable decline. Organogenesis Holdings (NASDAQ:ORGO) Inc. has had an impressive year-to-date performance, contrasting with AVITA Medical (TASE:BLWV) Inc., which saw a decrease in shares.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.