Brokerages Set Genomic Health Inc. (GHDX) Target Price at $30.88
Shares of Genomic Health Inc. (NASDAQ:GHDX) have earned an average rating of “Hold” from the ten ratings firms that are currently covering the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $30.88.
Several brokerages have recently commented on GHDX. Zacks Investment Research downgraded Genomic Health from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. Bank of America Corp. set a $28.00 target price on Genomic Health and gave the company a “sell” rating in a report on Wednesday, August 3rd. Jefferies Group upped their target price on Genomic Health from $25.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, August 17th. Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 target price on shares of Genomic Health in a report on Friday, August 5th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Genomic Health in a report on Tuesday, June 21st.
In other news, insider Steven Shak sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $27.42, for a total transaction of $137,100.00. Following the completion of the sale, the insider now directly owns 332,207 shares of the company’s stock, valued at approximately $9,109,115.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Felix Baker purchased 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were purchased at an average cost of $27.02 per share, with a total value of $2,702,000.00. The disclosure for this purchase can be found here. Insiders own 47.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new stake in Genomic Health during the first quarter worth $15,639,000. Eagle Asset Management Inc. purchased a new stake in Genomic Health during the third quarter worth $8,417,000. Ghost Tree Capital LLC purchased a new stake in Genomic Health during the second quarter worth $5,179,000. Renaissance Technologies LLC increased its stake in Genomic Health by 54.0% in the first quarter. Renaissance Technologies LLC now owns 446,021 shares of the company’s stock worth $11,048,000 after buying an additional 156,421 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in Genomic Health during the second quarter worth $1,983,000. 88.92% of the stock is owned by institutional investors.
Shares of Genomic Health (NASDAQ:GHDX) opened at 29.30 on Wednesday. Genomic Health has a one year low of $20.05 and a one year high of $35.79. The stock’s 50 day moving average price is $28.36 and its 200-day moving average price is $27.34. The stock’s market cap is $977.04 million.
Genomic Health (NASDAQ:GHDX) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.18) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). Genomic Health had a negative return on equity of 21.02% and a negative net margin of 8.84%. The business earned $81.97 million during the quarter, compared to analysts’ expectations of $81.27 million. During the same quarter last year, the business posted ($0.29) earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts predict that Genomic Health will post ($0.47) earnings per share for the current fiscal year.
About Genomic Health
Genomic Health, Inc is a healthcare company, which provides genomic-based diagnostic tests for the treatment of early stage cancer. The Company offers its Oncotype DX tests as a clinical laboratory service, where it analyzes the expression levels of genes in tumor tissue samples and provides physicians with a quantitative gene expression profile expressed as a single quantitative score, which it calls a Recurrence Score for invasive breast cancer and colon cancer, a DCIS Score for ductal carcinoma in situ (DCIS) and a Genomic Prostate Score for prostate cancer.
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