Grail (GRAL) PT Hiked to $38 at Morgan Stanley amid 'Equal Weight' Stance

Grail, Inc. (NASDAQ:GRAL) is one of the 15 successful spin-off companies. On June 25, Morgan Stanley reiterated an ‘Equal Weight’ on the stock. However, the investment bank raised its price target to $38 from $20. The adjustment is in response to the stock rallying by more than 150% year to date.

Morgan Stanley remains optimistic, given the long-term potential of the company’s Galleri multi-cancer early detection test. The test is tailored to detect multiple types of cancer through a single blood draw before symptoms appear.

Grail has positioned the Galleri test as a potential breakthrough in cancer screening. Nevertheless, Morgan Stanley insists the company faces inherent risks tied to the regulatory reimbursement pathway perspective. The investment firm has highlighted challenges in the development of cancer tests, including gaining widespread adoption and securing insurance coverage.

Grail, Inc. (NASDAQ:GRAL) is a healthcare company focused on developing blood tests for early cancer detection. Its primary goal is to enhance cancer detection at earlier stages when it may be more treatable and potentially curable. The company was formed following its spin-off from Illumina in 2024.

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Disclosure: None. This article is originally published at Insider Monkey.