UPDATE: Stifel Starts Somalogic (SLGC) at Buy

Stifel analyst Daniel Arias initiates coverage on Somalogic (NASDAQ: SLGC) with a Buy rating and a price target of $12.00.

The analyst comments "We are initiating coverage of Somalogic (SLGC) with a Buy rating and a $12 TP. SLGC is a key player in the emerging field of multiplex proteomics, where demand for large-scale protein analysis capabilities looks to be growing rapidly. While the space is nascent and the competitive landscape is still taking shape, we believe Soma's combination of validated technology, established base of business, expanding portfolio, and ramping sales and marketing presence put them firmly at the front of the pack. This year should thus see the company take big steps forward in terms of creating awareness (customer and investor) and driving commercial progress, which makes current levels highly attractive for those looking for Smid cap assets in the high-growth corners of the Tools space."

For an analyst ratings summary and ratings history on Somalogic click here. For more ratings news on Somalogic click here.

Shares of Somalogic closed at $8.58 yesterday.

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