TLIS - Talis Biomedical initiated neutral at BofA despite a favorable view on Talis One

Bank of America has initiated the coverage on Talis Biomedical ([[TLIS]] +0.4%) with a neutral rating and a price target of $14.00 per share indicating ~8.9% upside to the previous close.The analyst Derik de Bruin sees a pandemic-driven surge in demand for tests targeting infectious diseases especially for those done at a point-of-care setting.With the supply failing to meet the demand for POC-based molecular diagnostic tests, Bruin expects more opportunities for new entrants such as Talis Biomedical.Noting that Talis One has benefits in terms of cost, convenience, performance, and speed, the analyst, however, issues a neutral recommendation on the stock despite having a favorable view on the company’s technology.Yesterday, Talis Biomedical announced that it has withdrawn the emergency use authorization application for Talis One COVID-19 test in the CLIA moderate setting, given its planned EUA application in a CLIA waived setting.

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Talis Biomedical initiated neutral at BofA despite a favorable view on Talis One