Natera target upped by Piper

Natera price target raised to $21 from $18 at Piper Jaffray. Piper Jaffray analyst William Quirk raised his price target for Natera to $21 after Dr. Sarwal presented on the company’s dd-cfDNA test for monitoring kidney health at the TTS meeting in Madrid. Dr. Sarwal reiterated the data released last week and noted that Natera’s assay can be used logituditally, like AlloSure, which is expected, Quirk tells investors in a research note. Disappointingly, Dr. Sarwal was not certain what the AUC for creatinine was in the broader cohort, the analyst adds. He continues to believe Natera has “material opportunity” in transplant, but that CareDx (CDNA) has a “significant head start in a concentrated market.” Quirk keeps an Overweight rating on Natera.

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