UPDATE: Cowen Starts Burning Rock Biotech Ltd. (BNR) at Outperform
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(updated to add analyst comments)
Cowen analyst Doug Schenkel initiates coverage on Burning Rock Biotech Ltd. (NASDAQ: BNR) with an Outperform rating.
The analyst commented, "Burning Rock has an early “first mover” advantage in the Chinese cancer profiling market. The company is pursuing a dual-pronged commercial strategy that leverages unique chemistry/assays to drive growth and increase market adoption in a large multibillion-dollar market. Biopharma and US-based Tools partners serve as known validation of the company’s approach and prowess. Initiate Outperform."
Shares of Burning Rock Biotech Ltd. closed at $26.50 yesterday.
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