BTIG raised the firm's price target on Personalis (PSNL) to $8 from $7 and keeps a Buy rating on the shares. The company's $50M investment from Merck (MRK) strengthens its balance sheet with another strategic partner and represents a major derisking event, the analyst tells investors in a research note. The firm also cites Personalis having extended their contract with Moderna (MRNA), which is now a 10-year contact and has two 5-year renewable options, adding that despite the higher move in the stock on the news, shares of PSNL trade at 2.5-times its enterprise value to expected 2026 revenue - below 3.7-times historical average.