Natera Q3 Results, 2029 Revenue Target Support Growth Outlook, RBC Says

MT Newswires Live11-07

Natera (NTRA) reported better-than-expected Q3 revenue and raised its 2026 guidance, reinforcing its growth outlook in minimal residual disease testing, while its 2029 revenue target and CEO transition represent key developments for the company, RBC Capital Markets said in a note Friday.

The investment firm said Natera's dominant position in minimal residual disease monitoring provides opportunities in a market with a total addressable market of more than $15 billion.

RBC also highlighted the CEO transition, with Steve Chapman stepping down after nearly eight years and Solomon Moshkevich named as his successor. The investment firm said management's $6 billion revenue target for 2029 is consistent with its existing estimates and does not require overly ambitious assumptions.

It expects further growth from new coverage decisions and additional indications and noted that Signatera's average selling price increased to approximately $1,290 in Q3 from $1,271 in Q2.

The investment firm raised its operating expense assumptions for 2027 to reflect increased research and development spending, while slightly lowering gross margin estimates to account for new product launches.

RBC maintained its $460 price target on Natera, with an outperform rating.

The company's shares were down nearly 16% in Friday afternoon trading.

Price: 306.70, Change: -57.06, Percent Change: -15.69

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