Prenetics Global (NASDAQ:PRE) Price Target Raised to $40.00

Key Points

• Benchmark raised Prenetics Global’s price target from $30 to $40 and kept a buy rating, implying about 96.7% upside from the current share price.
• Not all analysts are bullish: Weiss Ratings reaffirmed a sell (D-) rating, while overall analyst sentiment remains a Moderate Buy with a consensus target of $34.25.
• Prenetics recently reported a wider-than-expected loss of $0.56 per share on revenue of $35.95 million, and the stock traded at $20.34 amid a market cap of about $343 million.

Prenetics Global (NASDAQ:PRE - Get Free Report) had its price objective lifted by stock analysts at Benchmark from $30.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Benchmark's price target points to a potential upside of 96.71% from the company's current price.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Prenetics Global in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.25.

Prenetics Global Stock Performance

Prenetics Global stock traded down $0.91 during midday trading on Wednesday, hitting $20.34. 176,701 shares of the company were exchanged, compared to its average volume of 232,738. The business has a fifty day simple moving average of $18.52 and a two-hundred day simple moving average of $18.44. The firm has a market capitalization of $343.05 million, a PE ratio of -4.44 and a beta of 0.26. Prenetics Global has a fifty-two week low of $7.18 and a fifty-two week high of $23.63.

Prenetics Global (NASDAQ:PRE - Get Free Report) last released its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.07). The company had revenue of $35.95 million during the quarter, compared to analysts' expectations of $36.00 million. Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%. As a group, equities analysts expect that Prenetics Global will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 683 Capital Management LLC purchased a new position in Prenetics Global in the 4th quarter valued at $1,181,000. T3 Companies LLC purchased a new position in shares of Prenetics Global in the fourth quarter worth about $170,000. Kingsview Wealth Management LLC purchased a new position in shares of Prenetics Global in the fourth quarter worth about $172,000. Stevens Capital Partners boosted its position in Prenetics Global by 4.7% during the fourth quarter. Stevens Capital Partners now owns 18,207 shares of the company's stock worth $287,000 after acquiring an additional 825 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Prenetics Global during the third quarter worth about $65,000. 25.01% of the stock is owned by hedge funds and other institutional investors.

About Prenetics Global

Prenetics Global NASDAQ: PRE is a molecular diagnostics and genetic testing company that delivers a broad range of laboratory and at-home testing solutions. The company's core offerings include next-generation sequencing (NGS) panels for hereditary health risks, pharmacogenomic reports to guide medication choices, and comprehensive consumer DNA testing services. In addition to genetic insights, Prenetics provides infectious disease diagnostics—most notably real-time PCR testing for pathogens such as SARS-CoV-2—through an integrated platform that combines sample collection, laboratory processing and digital reporting.

Serving both business-to-consumer and business-to-business markets, Prenetics operates a network of laboratories and service centers across Asia Pacific, Europe, the Middle East and North America.

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