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LivestreamMenuFreenome is poised to broadly commercialize its cancer-screening services this fall, giving it significantly more room to run, according to Jefferies. The investment firm initiated coverage of the disease-detection name at a buy. It also put a $17 price target on shares, suggesting 47% upside from Friday’s close. “Although broader commercialization only begins this fall, we see multiple avenues for value creation (royalties, milestones, indication expansion),” analyst Tycho Peterson said Sunday in a note to clients. “We see FRNM as uniquely positioned from a development and commercial standpoint, with a multi-year penetration ramp ahead.” FRNM YTD mountain FRNM year to date He added that Freenome is likely to expand its focus from colorectal cancer detection to screening for lung and other forms of the disease — a fact that could drive more value to shares. In addition, several signs point to the fact that a wider range of U.S. health insurers could reimburse their clients for colorectal and other cancer screening tests, likely unlocking more demand for detection services offered by Freenome. “We see a steady cadence of reimbursement catalysts on deck, following American Cancer Society (ACS) guideline inclusion for [colorectal cancer screening] and potential for commercial coverage prior to [U.S. Preventive Services Task Force] guideline review (expected late ’27/’28),” Peterson wrote. Shares are up 12% over the past three months. They gained more than 7% following Jefferies’ call.Read More
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