Rodman & Renshaw Starts Cancer Genetics, Inc. (CGIX) at Buy
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Rodman & Renshaw initiated coverage on Cancer Genetics, Inc. (NASDAQ: CGIX) with a Buy rating and a price target of $6. Analyst Raghuram Selvaraju sees an attractive entry point.
"We are initiating coverage on Cancer Genetics, Inc. (CGI), an emerging molecular diagnostics company focusing primarily on the development and commercialization of high-content precision diagnostics in the oncology sector, with a Buy rating and a 12-month price target of $6.00 per share. In our view, CGI represents a highly differentiated investment opportunity, given its broad pipeline of tests (both commercial-stage and under development), and with its ability to generate high-margin revenue from partnerships with biopharmaceutical firms that are seeking to develop theranostic solutions for patients," said the analyst.
Shares of Cancer Genetics, Inc. closed at $1.76 yesterday.
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