Genomic Health, Inc. (GHDX) Given New $35.00 Price Target at Canaccord Genuity
Genomic Health, Inc. (NASDAQ:GHDX) had its price target reduced by stock analysts at Canaccord Genuity from $36.00 to $35.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the medical research company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 13.67% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Piper Jaffray Companies reissued a “hold” rating and set a $31.00 target price on shares of Genomic Health in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $33.00 target price on shares of Genomic Health in a report on Monday, June 12th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Genomic Health in a report on Wednesday, May 3rd. They noted that the move was a valuation call. BidaskClub lowered shares of Genomic Health from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Genomic Health from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.00.
Shares of Genomic Health (NASDAQ GHDX) traded down 0.49% during trading on Tuesday, reaching $30.64. 39,225 shares of the company traded hands. The company has a 50 day moving average price of $32.14 and a 200 day moving average price of $31.22. The firm’s market capitalization is $1.06 billion. Genomic Health has a 12-month low of $25.66 and a 12-month high of $33.97.
Genomic Health (NASDAQ:GHDX) last announced its quarterly earnings results on Tuesday, August 1st. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.02. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $86.08 million. Genomic Health had a negative net margin of 1.50% and a negative return on equity of 4.33%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. On average, equities analysts predict that Genomic Health will post $0.01 EPS for the current year.
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In other news, insider James J. Vaughn sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $30.59, for a total value of $244,720.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven Shak sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $29.40, for a total transaction of $147,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,392 shares of company stock worth $2,089,356 over the last three months. Insiders own 46.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Genomic Health during the fourth quarter worth approximately $4,546,000. Teachers Advisors LLC raised its stake in Genomic Health by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 31,801 shares of the medical research company’s stock worth $935,000 after buying an additional 1,838 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Genomic Health during the fourth quarter worth approximately $274,000. First National Bank of Omaha raised its stake in Genomic Health by 21.5% in the first quarter. First National Bank of Omaha now owns 25,740 shares of the medical research company’s stock worth $811,000 after buying an additional 4,553 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Genomic Health by 9.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,000 shares of the medical research company’s stock worth $2,992,000 after buying an additional 8,000 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.
About Genomic Health
Genomic Health, Inc is a healthcare company that provides genomic-based diagnostic tests to personalize cancer treatment. The Company develops and commercializes genomic-based clinical laboratory services. The Company’s Oncotype IQ Genomic Intelligence Platform is consisted of its flagship line of Oncotype DX gene expression tests, as well as its Oncotype SEQ Liquid Select test.
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