Maxim Group restated their buy rating on shares of BioNano Genomics (NASDAQ:BNGO) in a research note released on Thursday morning, AnalystRatings.com reports. The firm currently has a $11.00 price target on the stock.
“Bionano’s optical mapping platform, Saphyr, was the subject of a number of presentations (1 platform-based, 1 electronic poster, 7 posters) at the Genetics (ESHG) 2019. Building awareness, as we have noted previously, is going to be key to driving Saphyr adoption.”,” Maxim Group’s analyst wrote.
Separately, Zacks Investment Research downgraded shares of BioNano Genomics from a hold rating to a sell rating in a report on Friday, March 22nd.
BioNano Genomics (NASDAQ:BNGO) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.12). The firm had revenue of $1.85 million for the quarter, compared to the consensus estimate of $1.76 million. As a group, analysts forecast that BioNano Genomics will post -2.25 EPS for the current year.
Large investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new position in shares of BioNano Genomics during the fourth quarter worth $254,000. Worth Venture Partners LLC grew its stake in shares of BioNano Genomics by 1,666.6% in the fourth quarter. Worth Venture Partners LLC now owns 79,902 shares of the company’s stock worth $417,000 after purchasing an additional 75,379 shares during the last quarter. Finally, Monashee Investment Management LLC grew its stake in shares of BioNano Genomics by 50.6% in the fourth quarter. Monashee Investment Management LLC now owns 245,860 shares of the company’s stock worth $1,288,000 after purchasing an additional 82,595 shares during the last quarter. Institutional investors own 9.81% of the company’s stock.
BioNano Genomics Company Profile
Bionano Genomics, Inc operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and to streamline the study of changes in chromosomes, which is known as cytogenetics.
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