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Cancer Genetics, Inc. Message Board

  • siestacottage siestacottage Jan 2, 2014 3:35 PM Flag

    cgi upgrade

    Regarding Cancer Genetics, Mr. Haynor rates the stock “strong buy,” with a $24 price target. The stock was quoted at $13.86 on Thursday afternoon.

    “Cancer Genetics has an unrivaled positioning within hematological, urogenital and gynecological proprietary cancer testing,” he said.

    “By virtue of the advanced nature of their tests and the types of cancers they focus on, the business allows for CTaaS (cancer testing as a service), a recurring revenue model whereby patients would be testing once a year (or more) to check for mutations in the cancer; this is in stark contrast to other successful molecular diagnostic firms, whose tests are often conducted once in a patient’s life.”

    Mr. Haynor said Cancer Genetics has tests launched and in development that collectively amount to addressable markets of $6-billion in the U.S. and $15-billion worldwide. The cancers that it focuses on represent a full third of new cancer diagnoses in the U.S.

    In addition, the company has secured a number of validating partnerships and customers, including a 50% joint venture with Mayo Clinic, utilizing next-generation sequencing; increasing clinical trial business with Gilead Sciences; and a global RFP with Roche.

    He said proceeds from secondary offerings have given Cancer Genetics a strong footing to both expand its sales force and expand its relationships with biopharma firms

    “We believe Cancer Genetics is a potential acquisition candidate – molecular diagnostics will represent a massive growth area in the healthcare space over the next decade,” he said, adding that a number of high-profile acquisitions have occurred in the space recently as larger firms focus on winning the “land grab.”

 
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