- BofA analyst Vivek Arya initiated coverage of Rockley Photonics Holdings Ltd RKLY with a Buy and $14 price target, implying a 56.6% upside.
- The company's optical sensing platform targets a $32 billion total addressable market in monitoring critical biomarkers via smart wearable devices, Arya notes.
- Unlike traditional LED solutions, Rockley's integrated spectrophotometer and on-device analytics platform offer "much higher" resolution and accuracy, enabling healthcare clinic-on-the-wrist solution to monitor glucose and lactate levels, blood alcohol, core body temp, hydration, and alcohol levels.
- Price Action: RKLY shares traded higher by 4.91% at $9.40 in the premarket session on the last check Friday.
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