Canaccord Genuity Reaffirms “Buy” Rating for Genomic Health, Inc. (GHDX)
Genomic Health, Inc. (NASDAQ:GHDX)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a research note issued to investors on Wednesday. They presently have a $39.00 price objective on the medical research company’s stock. Canaccord Genuity’s target price points to a potential upside of 37.42% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Genomic Health from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Cowen and Company restated a “hold” rating and issued a $34.00 target price on shares of Genomic Health in a research note on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and issued a $33.00 target price on shares of Genomic Health in a research note on Thursday, September 14th. BidaskClub upgraded shares of Genomic Health from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $31.00 target price on shares of Genomic Health in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Genomic Health currently has an average rating of “Hold” and an average target price of $32.67.
Genomic Health (GHDX) traded down $0.21 during midday trading on Wednesday, hitting $28.38. 136,400 shares of the stock were exchanged, compared to its average volume of 118,920. Genomic Health has a 1 year low of $26.37 and a 1 year high of $34.02.
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In other Genomic Health news, insider Kimberly J. Popovits sold 5,000 shares of Genomic Health stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $31.00, for a total value of $155,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Vaughn sold 1,379 shares of Genomic Health stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $32.51, for a total transaction of $44,831.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,379 shares of company stock valued at $676,131. 46.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in Genomic Health in the 3rd quarter valued at about $138,000. Dubuque Bank & Trust Co. raised its stake in shares of Genomic Health by 8.4% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 4,897 shares of the medical research company’s stock valued at $159,000 after acquiring an additional 379 shares during the period. Legal & General Group Plc raised its stake in shares of Genomic Health by 48.7% in the 1st quarter. Legal & General Group Plc now owns 6,222 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 2,038 shares during the period. SG Americas Securities LLC raised its stake in shares of Genomic Health by 37.8% in the 2nd quarter. SG Americas Securities LLC now owns 6,122 shares of the medical research company’s stock valued at $199,000 after acquiring an additional 1,679 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Genomic Health in the 3rd quarter valued at approximately $227,000. Institutional investors and hedge funds own 89.13% of the company’s stock.
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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