In a report released yesterday, Kevin DeGeeter from Oppenheimer maintained a Hold rating on Genomic Health (GHDX). The company’s shares closed yesterday at $65.46.
DeGeeter said:
“On 5/7/19 after close, GHDX reported healthy 1Q19 growth, beating our high-on- the-Street estimate, and signaled confidence regarding a potential positive coverage decision for Germany during 2Q19. If GBA supports timely reimbursement of OncoType DX German public health system, in our view, GHDX is well positioned to achieve the upper end of 2019 revenue guidance of $436M-$448M. However, even the top of the range implies a meaningful 2H19 slowdown in growth from the 17% recognized in 1Q19 to high single digits as the impact of TAILORx annualizes beginning in 3Q19. We continue to expect GHDX shares to be range- bound until investors have greater visibility of the post-TAILORx sustainable growth rate for the business. Maintain Perform rating.”
According to TipRanks.com, DeGeeter is a 4-star analyst with an average return of 13.0% and a 49.5% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences Inc, Molecular Templates Inc, and Neon Therapeutics Inc.
Genomic Health has an analyst consensus of Hold, with a price target consensus of $80.60.
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The company has a one-year high of $92.18 and a one-year low of $35.72. Currently, Genomic Health has an average volume of 506.2K.
Based on the recent corporate insider activity of 147 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GHDX in relation to earlier this year. Most recently, in February 2019, Henry Fuchs, a Director at GHDX sold 30,000 shares for a total of $2,446,532.
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Genomic Health, Inc. engages in the provision of genomic-based diagnostic tests. Its tests analyze the underlying biology of cancers, allowing physicians and patients to make individualized treatment decisions. The firm uses a platform which translates a massive amount of clinical and genomic data into clinically actionable results for treatment planning.
