NEW YORK (TheStreet) -- RosettaGenomics (ROSG) stock closed up by 4.84% to $1.30 on heavy trading volume on Friday, after Cantor Fitzgerald initiated coverage on the stock with a "speculative buy" rating.
Speculative buy ratings are given to companies that tend to have a high upside potential but are more volatile than the company's industry sector, according to Cantor.
Formerly a niche player in the market for testing cancers of unknown primary, Rosetta has transformed itself into a molecular diagnostics lab with a portfolio of tests targeting the oncology market, Cantor said.
Rosetta's top-line revenue growth should benefit from its acquisition of PersonalizeDx, which provides cancer diagnostic testing technology.
"In the long-term, we believe ROSG will establish itself as a key oncology lab partner for community oncologists with a portfolio of tests that should benefit from the continued emergence of personalized medicine," Cantor said.
As of the market close on Friday, 2.10 million shares of Rosetta have traded, versus its 30-day average of about 434,000 shares.