Natera leaps after Q1 beat-and-raise report

Natera

10/05/2024 14:46

** Shares of genetic testing firm Natera  NTRA.O  jump >13%
early Fri after its strong qtrly results and forecast
    ** NTRA rises as much as 13.4% to $108.32, highest since Nov
2021. Stock last up 10% at $105.07
    ** Co late Thurs reported Q1 rev grew 52% yr/yr to $367.7
mln, topping LSEG consensus est. of $316.3 mln
    ** Adj loss/sh in qtr of 56 cents narrower than Street
expectations for 71 cents/sh loss
    ** For 2024, it now sees rev of $1.42-$1.45 bln, up from
prior guidance of $1.32-$1.35 bln
    ** At least 5 brokerages hike their PTs in wake of report,
including Bernstein and TD Cowen
    ** 16 of 17 analysts rate NTRA "strong buy" or "buy", while
1 rates "sell" - LSEG
    ** Median PT of $115.50 up from $101.50 a month ago and from
$70 on Feb 10
    ** With move on the session, stock up 68% YTD and has
doubled over the past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))