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The investment bank said that T2 Bio's installed base and number of tests per instrument could increase as more hospitals realize the clinical and economic benefits of the company’s technology.
The investment bank gave LabCorp an Outperform rating and a price target on its stock of $175. It gave Quest a Market Perform rating and an $88 price target.
The investment firm noted that Myriad is still trying to stabilize its hereditary cancer testing business while diversifying its portfolio to drive future growth.
Amid a flat month for the index, some firms saw large swings in their stock price. Natera led the gainers, while NantHealth led the decliners.
The investment bank took note of Danaher's soft organic growth rate in the first quarter, and said it will need to build up its life science portfolio.
The investment bank also assigned a price target of $194 per share to the life science tools and diagnostics firm's stock.
The investment bank gave Exact Sciences' shares a price target of $30, and said it expects higher uptake of the Cologuard test and an increase in payor contracts.
The investment bank said Exact has the opportunity to book $4 billion to $5 billion in revenues a year from its colon cancer screening test Cologuard.
The bank rated companies like Thermo Fisher Scientific and Agilent at Buy, Illumina and PerkinElmer at Hold, and Myriad Genetics and Luminex at Sell.
The investment bank set a price target of $18.00 for shares of the molecular diagnostics company.