BioNano Genomics (NASDAQ:BNGO) Earns “Buy” Rating from Maxim Group
Maxim Group restated their buy rating on shares of BioNano Genomics (NASDAQ:BNGO) in a research note issued to investors on Friday, AnalystRatings.com reports. They currently have a $7.00 price objective on the stock.
“Bionano reported 2Q19 with revenues of $2.2M and a net loss of ($7.7M). The company ended the period with $15.3M in cash on the balance sheet.”,” Maxim Group’s analyst commented.
A number of other equities analysts have also issued reports on the stock. ValuEngine raised shares of BioNano Genomics from a hold rating to a buy rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of BioNano Genomics from a hold rating to a sell rating in a research report on Monday, July 8th.
BioNano Genomics (NASDAQ:BNGO) last announced its earnings results on Thursday, August 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.14). BioNano Genomics had a negative return on equity of 249.06% and a negative net margin of 247.03%. The company had revenue of $2.18 million for the quarter, compared to the consensus estimate of $2.56 million. As a group, equities analysts anticipate that BioNano Genomics will post -2.25 EPS for the current fiscal year.
A hedge fund recently bought a new stake in BioNano Genomics stock. Millennium Management LLC purchased a new stake in BioNano Genomics Inc (NASDAQ:BNGO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 48,399 shares of the company’s stock, valued at approximately $254,000. Millennium Management LLC owned 0.48% of BioNano Genomics at the end of the most recent reporting period. 9.81% of the stock is currently owned by institutional investors.
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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