Freenome (NASDAQ:FRNM) Given Average Recommendation of “Moderate Buy” by Analysts

Freenome (NASDAQ:FRNM) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.00.

FRNM has been the topic of several research analyst reports. BTIG Research began coverage on Freenome in a research note on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective on the stock. TD Cowen started coverage on Freenome in a research report on Tuesday, August 18th. They set a “buy” rating and a $17.00 price target on the stock. Jefferies Financial Group began coverage on Freenome in a research note on Monday, August 17th. They set a “buy” rating and a $17.00 price target on the stock. Weiss Ratings assumed coverage on Freenome in a report on Monday, August 24th. They issued a “sell (d+)” rating for the company. Finally, Guggenheim initiated coverage on shares of Freenome in a research note on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective for the company.

Freenome Trading Up 5.0%

FRNM stock opened at $17.11 on Friday. Freenome has a 12 month low of $9.97 and a 12 month high of $17.25. The stock has a market capitalization of $1.84 billion, a P/E ratio of -285.12 and a beta of 0.48.

About Freenome

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at earlier, more treatable stages. Its approach combines artificial intelligence with multiomics analysis, examining biological signals in blood, including circulating tumor material and other molecular indicators.

The company has focused on noninvasive screening tests for colorectal cancer and other cancers. Freenome’s products remain in development and are being evaluated through clinical research and validation studies; the company’s tests are not described here as broadly approved diagnostic products.

Founded in 2014 and headquartered in the United States, Freenome has worked with healthcare providers, research organizations and pharmaceutical companies to advance its screening technology.