BNGO - Bionano Genomics expected to generate further upside at BTIG despite 1000% gain

libre de droit/iStock via Getty Images Bionano Genomics ([[BNGO]] +3.6%) has risen more than ~1,000% over the past 12-month period. Yet, BTIG analysts led by Sung Ji Nam anticipate further room for upside as they initiate the coverage of the stock with a buy rating. The price target of $10.00 per share implies a premium of ~15.6% to the last close. Noting the potential of the company’s optical genome mapping ((OGM)) technology, the analysts think that Bionano is on the edge of disrupting the cytogenetics testing market opening a company-estimated total addressable market of $700M – $1B. The large-scale structural variations in the genome that are not reliably detected only by Next-Gen sequencing technologies but addressed by Bionano’s OGM technology, “could become a significant part of the genetic analysis market, Nam and the team argue. With the company’s recent earnings release, Bionano CFO Chris Stewart commented, “We anticipate that the

For further details see:

Bionano Genomics expected to generate further upside at BTIG despite 1,000% gain