Sera Prognostics Q2 revenue rises on expanded partnerships and Medicaid coverage

• Partnership expansion - The company said the launch of a fourth partnership program and expanded payer engagement contributed to increased adoption of the PreTRM test.
• Medicaid coverage - Illinois Medicaid mandate expanded access to the PreTRM test, covering all Medicaid pregnancies in the state.
• Increased testing volume - The company said a steady month-to-month increase in testing volume followed publication of PRIME study data.

The current average analyst rating on the shares is strong buy, with 4 strong buy or buy ratings, no hold ratings, and no sell or strong sell ratings.

Wall Street's median 12-month price target for Sera Prognostics, Inc. is $5.50, about 176.4% above its August 11 closing price of $1.99.

Sera Prognostics ended Q2 with $80.3 million in cash and securities, which it said funds operations through 2029 milestones.

The company expects research and development expenses to decline in future periods.