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    Kyle Boucher

    Research Analyst at TD Cowen

    Kyle Boucher is an Associate at TD Cowen specializing in equity research within the life science tools and diagnostics sector. He covers key companies such as Bio-Techne and potentially other leading firms in the space, with his investment calls contributing to Bio-Techne's robust performance as noted on TipRanks. Boucher started his career after graduating from Stonehill College and, following a successful trial period, joined TD Cowen full-time as a research associate in 2020. He holds a BSBA degree, maintains FINRA registration as a broker with TD Securities (USA) LLC, and has established himself as a diligent analyst through strong mentor relationships and a demonstrated ability to adapt and deliver value.

    Kyle Boucher's questions to 10x Genomics (TXG) leadership

    Kyle Boucher's questions to 10x Genomics (TXG) leadership • Q2 2025

    Question

    Kyle Boucher inquired about the unique technological aspects of Scale Biosciences that made it an attractive acquisition target and the anticipated incremental R&D investment required for integration.

    Answer

    CEO Serge Saxonov highlighted Scale's foundational inventions in combinatorial indexing and quantum barcoding as key differentiators that stood out during their technology landscape assessment. He stated that they do not expect any material incremental R&D costs, as the integration fits well within their existing innovation infrastructure.

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    Kyle Boucher's questions to Seer (SEER) leadership

    Kyle Boucher's questions to Seer (SEER) leadership • Q2 2025

    Question

    Kyle Boucher from Cowen inquired about the initial customer feedback and uptake for the new Proteograph One assay and asked about the pipeline of STAC customers converting to in-house instrument placements.

    Answer

    CEO Omid Farokhzad described the feedback on Proteograph One as "fantastic," noting its enhanced throughput is enabling landmark population-scale studies, such as the 20,000-sample project with Korea University. CFO David Horn confirmed that the STAC program remains a strong pipeline for instrument sales, stating that over half of Q2 instrument shipments were to former STAC users, a trend he expects to continue.

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    Kyle Boucher's questions to Seer (SEER) leadership • Q4 2024

    Question

    Kyle Boucher inquired about the 2025 guidance, specifically the expected mix between instruments and consumables and the pacing throughout the year. He also asked for details on the STAC program's pipeline, backlog, and revenue trajectory.

    Answer

    Executive Omid Farokhzad stated that despite a tough 2024 for CapEx, he feels good about the 2025 guidance due to strengthening technology validation, even with NIH budget uncertainty. Executive David Horn added that the 2025 revenue mix should be similar to 2024, with instrument placements expected to increase alongside larger consumable projects. Regarding STAC, Omid Farokhzad clarified that capacity will remain consistent, but revenue will grow as projects are priced closer to market rates. David Horn confirmed strong STAC demand from large pharma, a high repeat customer rate, and significant use for model organism studies.

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    Kyle Boucher's questions to BIO-TECHNE (TECH) leadership

    Kyle Boucher's questions to BIO-TECHNE (TECH) leadership • Q4 2025

    Question

    Kyle Boucher from TD Cowen asked for details on the trends observed between large pharma and smaller biotech customers during the quarter and how pharma fits into the low single-digit growth outlook. He also requested quantification of any potential pull-forward demand in China's strong quarterly results.

    Answer

    CFO James Hippel confirmed that large pharma grew double-digits in the quarter and that the low single-digit forward guidance assumes a continuation of current trends, with robust large pharma performance offsetting weakness elsewhere. President & CEO Kim Kelderman attributed China's low double-digit growth to a combination of released funding and some customer purchasing ahead of potential tariffs, suggesting the underlying market is stabilizing toward modest growth.

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    Kyle Boucher's questions to MYRIAD GENETICS (MYGN) leadership

    Kyle Boucher's questions to MYRIAD GENETICS (MYGN) leadership • Q2 2025

    Question

    Kyle Boucher, on behalf of Dan Brennan from TD Cowen, requested a breakdown of the drivers behind the updated long-term revenue growth target of high single-digits to low double-digits, asking about the expected contributions from different business segments and new products like MRD.

    Answer

    President and CEO Sam Raha outlined that the growth target is a composite of several factors. He expects the prenatal and mental health businesses to grow at or above their respective markets. The primary driver will be the cancer care continuum, fueled by high single to low double-digit growth in existing tests and new revenue streams from areas like MRD and comprehensive genomic profiling, which will be accessed through internal development and partnerships. CFO Scott Leffler added that a more detailed update to the long-range plan will be provided at a later date.

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    Kyle Boucher's questions to STANDARD BIOTOOLS (LAB) leadership

    Kyle Boucher's questions to STANDARD BIOTOOLS (LAB) leadership • Q1 2025

    Question

    Kyle Boucher of TD Cowen, on behalf of Dan Brennan, inquired about the reiterated full-year guidance, specifically the expected revenue split between the first and second half of the year. He also asked for details on the instrument demand funnel, whether any Q1 strength was due to pull-forward, and for an update on the M&A pipeline and the potential timing of deals.

    Answer

    CFO Hanjoon Kim explained that the back-half weighting of revenue is driven by their internal funnel and specific large projects, rather than typical seasonality. CEO Michael Egholm added that the instrument funnel is encouraging, particularly for the Hyperion XTi, and he does not believe there was any material pull-forward of orders. Regarding M&A, Egholm confirmed it remains a core strategy with an increased number of opportunities, but emphasized that the company remains highly disciplined with a high bar for acquisitions to protect its cash position.

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    Kyle Boucher's questions to STANDARD BIOTOOLS (LAB) leadership • Q4 2024

    Question

    Kyle Boucher, on behalf of Dan Brennan, asked about potential instrument stimulus opportunities in China and inquired about the expected size and timing of the 4 to 6 M&A deals planned for 2025-2026.

    Answer

    Executive Michael Egholm confirmed a strong team and good traction in China, expecting the year to be an improvement over the last. On M&A, he described a rich and active deal funnel, noting that timing is variable. He reiterated that the company targets proven, derisked technologies with strong gross margin profiles, citing the recent Sengenics acquisition as an example of their disciplined strategy.

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    Kyle Boucher's questions to STANDARD BIOTOOLS (LAB) leadership • Q3 2024

    Question

    On behalf of Dan Leonard, Kyle Boucher asked for quantification of the Q3 Lab Services revenue that was driven by favorable project timing and questioned if the Q4 forecast accounts for a potential year-end budget flush.

    Answer

    President and CEO Michael Egholm explained that while Q3 benefited from favorable timing after an unfavorable Q2, the company faces a $15-$20 million full-year headwind from its top five customers. He highlighted encouraging double-digit growth outside of this group. Egholm also stated that the Q4 forecast does not rely on a budget flush. COO and Interim CFO Hanjoon Kim added that the company's sales funnel supports the reiterated guidance.

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    Kyle Boucher's questions to SOPHiA GENETICS (SOPH) leadership

    Kyle Boucher's questions to SOPHiA GENETICS (SOPH) leadership • Q4 2024

    Question

    Kyle Boucher of TD Cowen, on behalf of Dan Brennan, questioned the feasibility of the company's long-term 30-35% growth target and asked about broader market trends for clinical NGS volumes.

    Answer

    Co-Founder and CEO Dr. Jurgi Camblong pointed to strong 2024 bookings, a superior 2025 pipeline, and improved implementation rates as drivers for future acceleration. President Ross Muken added that the ambition is to return to "more normalized growth rates" by 2026. Regarding the market, Camblong expressed optimism that the overall NGS market will grow. However, Muken clarified that SOPHiA's growth is primarily reliant on "taking share," with broader market growth being a potential upside.

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