11:55 AM EDT, 05/24/2024 (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 raise our 12-month target price by $3 to $28, reflecting a 3.5x multiple of our 2025 revenue estimate, a discount to GH's historical average due to a long horizon until break-even cash flows are reached. GH announced the Molecular and Clinical Genetics Panel of the U.S. Food and Drug Administration's (FDA) Medical Devices Advisory Committee has strongly recommended FDA approval of the company's Shield blood test for colorectal cancer screening in adults aged 45 and older who are at average risk for the disease. This indicated their conclusion that the test's benefits as a primary non-invasive screening option outweigh any potential risks (seven to two favorably on the advisory committee). The FDA is expected to decide whether to approve Shield later this year; we believe this recommendation makes FDA approval more likely.