01:30 PM EDT, 05/10/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target price by $3 to $25, based on a 3.6x multiple of our 2025 revenue estimate, a sizable discount to GH's historical average due to a long horizon until break-even cash flows are reached. We narrow our 2024 adj. loss per share forecast to -$2.54 from -$2.80 and our 2025 forecast to -$2.37 from -$2.60. GH reported a Q1 GAAP loss per share of -$0.94 vs. a -$1.30 loss, $0.05 shy of the S&P Capital IQ consensus estimate. However, revenue was slightly ahead of our expectations and 7% ahead of consensus, growing 31% Y/Y to $168.5 million. This result was driven by strong precision oncology testing revenue due to growth in both clinical and biopharma revenue. Following lackluster performance the past few years, we anticipate a potential positive catalyst for shares and an inflection point for revenue growth if the FDA votes favorably on GH's premarket approval application (PMA) for its Shield blood test (screens for colorectal cancer in individuals at average risk) later this month.