Bionano Genomics (NASDAQ:BNGO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $9.25 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 25.00% from the stock’s previous close.

According to Zacks, “BioNano Genomics, Inc. operates as a life sciences instrumentation company in the genome analysis space. The Company offers proprietary nanochannel chips, automated imaging instrument, integrated primary and secondary software, and application specific reagents. BioNano Genomics, Inc. is based in San Diego, United States. “

Other analysts have also issued research reports about the stock. Maxim Group lifted their price target on shares of Bionano Genomics from $2.00 to $14.00 in a research report on Friday, January 22nd. Oppenheimer restated a “buy” rating on shares of Bionano Genomics in a research report on Wednesday, March 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Bionano Genomics has a consensus rating of “Buy” and a consensus price target of $8.10.

Shares of BNGO stock opened at $7.40 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 0.12. Bionano Genomics has a twelve month low of $0.29 and a twelve month high of $15.69. The company’s 50-day moving average price is $9.31 and its 200-day moving average price is $4.75. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -3.89 and a beta of 2.91.

Bionano Genomics (NASDAQ:BNGO) last issued its earnings results on Monday, March 22nd. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Bionano Genomics had a negative net margin of 510.42% and a negative return on equity of 749.14%. As a group, equities research analysts predict that Bionano Genomics will post -0.43 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Retirement Group LLC purchased a new stake in shares of Bionano Genomics in the 4th quarter valued at approximately $30,000. Hamilton Wealth LLC acquired a new stake in Bionano Genomics in the 4th quarter valued at approximately $32,000. LPL Financial LLC acquired a new stake in Bionano Genomics in the 4th quarter valued at approximately $33,000. Susquehanna International Group LLP purchased a new stake in Bionano Genomics in the fourth quarter valued at approximately $34,000. Finally, LMR Partners LLP acquired a new position in Bionano Genomics during the fourth quarter worth $42,000. Institutional investors and hedge funds own 5.64% of the company’s stock.

About Bionano Genomics

Bionano Genomics, Inc operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and to streamline the study of changes in chromosomes, which is known as cytogenetics.

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