Leerink initiated coverage of Freenome with an Outperform rating and set an $18 price target, pointing to expanding colorectal cancer testing rollout plans following FDA approval of Freenome’s SimpleScreen CRC. The analysis says Freenome’s technology can serve a large liquid biopsy screening market and notes SimpleScreen CRC is expected to launch in Q3 with partner Abbott. The firm also highlighted potential milestone-driven economics through 2028. Leerink cited provider-awareness dynamics, noting that while some primary care practitioners expressed interest, many were not yet familiar with the test. The note also flagged uncertainty around how much revenue Freenome will realize given collaboration structures. Freenome went public last month in a $310 million SPAC deal, and the bank’s coverage frames the next phase as a function of assay launches and uptake growth. Investors will likely watch volume trends alongside competitive positioning versus existing CRC screening approaches.