Prenetics Global (NASDAQ:PRE) Stock Price Expected to Rise, Benchmark Analyst Says

Prenetics Global (NASDAQ:PRE) had its price target lifted by equities researchers at Benchmark from $30.00 to $40.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 111.53% from the company’s previous close.

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

Prenetics Global Stock Down 3.4%

Shares of NASDAQ PRE opened at $18.91 on Wednesday. The firm has a market cap of $319.01 million, a price-to-earnings ratio of -4.13 and a beta of 0.26. Prenetics Global has a 52-week low of $7.18 and a 52-week high of $23.63. The business’s 50 day moving average is $18.66 and its two-hundred day moving average is $18.47.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings results on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%.The firm had revenue of $35.95 million for the quarter, compared to analyst estimates of $36.00 million. Analysts anticipate that Prenetics Global will post -1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Prenetics Global

Several large investors have recently added to or reduced their stakes in the business. Stevens Capital Partners lifted its holdings in Prenetics Global by 4.7% during the 4th quarter. Stevens Capital Partners now owns 18,207 shares of the company’s stock worth $287,000 after buying an additional 825 shares in the last quarter. State of Wyoming acquired a new position in shares of Prenetics Global in the first quarter worth $48,000. Wells Fargo & Company MN acquired a new position in shares of Prenetics Global in the fourth quarter worth $47,000. JPMorgan Chase & Co. acquired a new position in shares of Prenetics Global in the third quarter worth $65,000. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Prenetics Global during the fourth quarter worth $170,000. 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.