Grail's Galleri Test Has Large Market Potential Amid Adoption Curve Concerns, RBC Capital Markets Says

11:36 AM EDT, 09/17/2026 (MT Newswires) -- Grail's (GRAL) Galleri multi-cancer early detection test could unlock a "substantial" market opportunity, but adoption and reimbursement hurdles could limit near-term sales, RBC Capital Markets said in a note Thursday. The investment firm said Galleri could gain US Food and Drug Administration approval in late 2026 or early 2027, which would provide a "compelling" catalyst for the stock. Even with potential approval, RBC expects slower sales ramp than Wall Street and sees cash burn increasing year over year in 2027. The firm forecast $430 million in sales in 2030, compared with a consensus estimate of about $512 million, citing "limited" demand from patients paying out-of-pocket and a lack of broad insurance coverage. RBC Capital Markets initiated coverage of Grail with a sector perform rating and a price target of $84. Grail's shares were 4.3% higher in Thursday trading. Price: 78.32, Change: +3.21, Percent Change: +4.27