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Trading list analyst action - June 16: BNGO - Bionano Genomics

Bionano Genomics initiated with a Buy at BTIG

BTIG analyst Sung Ji Nam initiated coverage of Bionano Genomics with a Buy rating and $10 price target. The company provides optical genome mapping technology tools and services to enable large-scale structural variation analysis of the genome, Ji Nam tells investors in a research note. The analyst believes Bionano is "on the cusp of disrupting" the cytogenetics testing market currently served by karyotyping, microarray and FISH techniques. Given the recent accelerated adoption of the Saphyr platform, coupled with the strengthened balance sheet and large-scale clinical studies underway, the company is well positioned to "significantly accelerate" its revenue growth over the next several years, says Ji Nam.

Our Take:  "Very speculative biotech stock, but potential to be a big hit. High risk/reward pick."

$BNGO, Bionano Genomics, Inc. / H1

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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