Why Bionano Genomics Stock Popped Today

Shares of Bionano Genomics (NASDAQ: BNGO), a genome analysis specialist, have been on fire of late, skyrocketing by more than 1,500% over the past month. On Friday, the company extended that upward run: Its stock was up by 12% as of 1:33 p.m. EST, after jumping by as much as 16.7% earlier in the day.

The company did not report any news today, but it did receive positive coverage from a Wall Street analyst.

Jason McCarthy of Maxim Group, a firm that provides equity research among other services, raised his price target for Bionano Genomics' stock to $14 from $2; he also kept a buy rating on the stock. Shares closed trading Thursday at $8.27, which means McCarthy still sees some upside for the stock.

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Source Fool.com