Aug. 11 at 8:11 PM
BTIG reiterated BillionToOne as a top pick in the diagnostics sector, maintaining a Buy rating while lowering its price target to
$130 from
$142. The firm ranked the company in the top decile of specialty laboratories based on its technology platform, products and financial metrics, despite recent market volatility.
BillionToOne reported Q2 fiscal 2026 revenue of
$109.4 million, up 64% year over year and broadly in line with the
$109 million analyst consensus. Shares nevertheless fell 28% after hours as lower-than-expected true-ups and a one-time payer issue affected results. Management said more than
$10 million in withheld claims from a major national payer were delayed pending implementation of a billing code and are expected to be recognized in Q3 or Q4 rather than lost.
Prenatal testing volumes reached about 181,000, up 31% year over year and above estimates of 179,000.
$BLLN