In a report released yesterday, Mark Massaro from BTIG reiterated a Buy rating on Berkeley Lights (BLI – Research Report), with a price target of $10.00. The company’s shares closed last Wednesday at $3.77, close to its 52-week low of $3.76.
According to TipRanks.com, Massaro is a 3-star analyst with an average return of 2.1% and a 43.8% success rate. Massaro covers the Healthcare sector, focusing on stocks such as MDxHealth S.A. Sponsored ADR, Ginkgo Bioworks Holdings, and Accelerate Diagnostics.
Currently, the analyst consensus on Berkeley Lights is a Moderate Buy with an average price target of $13.00, which is a 179.0% upside from current levels. In a report issued on May 9, J.P. Morgan also maintained a Buy rating on the stock with a $12.00 price target.
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The company has a one-year high of $51.28 and a one-year low of $3.76. Currently, Berkeley Lights has an average volume of 1.24M.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BLI in relation to earlier this year.
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Berkeley Lights Inc is a digital cell biology company focused on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products. The Berkeley Lights platform captures deep phenotypic, functional and genotypic information for thousands of single cells in parallel and can also deliver the live biology customers desire in the form of the best cells. The Berkeley Lights Platform is a fully integrated, end-to-end solution, comprised of proprietary consumables, including its OptoSelect chips and reagent kits, advanced automation systems and advanced application and workflow software. The company operates in North America, Asia Pacific and Europe, with North America deriving majority of the revenue.
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