Leerink initiated coverage of Freenome with an Outperform rating and an $18 price target, citing the company’s progress in liquid biopsy cancer screening. The analyst pointed to Freenome’s SimpleScreen colorectal cancer test launching in Q3 through partner Abbott and expectations for additional assays across single- and multi-cancer indications. The note also emphasized milestone economics tied to FDA approval of SimpleScreen CRC, stating Freenome is due to receive more than $170 million through 2028. Leerink’s survey work with primary care practitioners suggested early interest but also highlighted awareness gaps, with only a minority familiar with the test. The report further flagged that revenue contribution through Abbott’s collaboration remains unclear, and that Freenome may face competitive pressure from Guardant Health’s Shield assay as adoption scales. The timing and scale of provider education could therefore influence early volumes after launch.