Zacks Investment Research Upgrades Genomic Health (GHDX) to “Hold”

Genomic Health (NASDAQ:GHDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Genomic Health's sole reliance on the Breast Oncotype DX test is a concern. Moreover,  the company’s rising operating expenses also pose challenges. However, over the past three months, Genomic Health has been trading above the broader industry. We are encouraged by the company witnessing a  year-over-year rise in revenues, driven by solid performances in United States and internationally. Within prostate cancer, the Oncotype DX Genomic Prostate Score test received positive Local Coverage Determination to expand Medicare coverage by Palmetto GBA. The company also made positive developments for its Oncotype DX Breast Recurrence Score tests. Also, it established private coverage for the test in Germany.”

A number of other brokerages have also weighed in on GHDX. BidaskClub upgraded shares of Genomic Health from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. William Blair lowered shares of Genomic Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. Barclays reiterated a “sell” rating and set a $28.00 target price on shares of Genomic Health in a research note on Monday, January 8th. Canaccord Genuity reiterated a “buy” rating and set a $42.00 target price on shares of Genomic Health in a research note on Tuesday, January 16th. Finally, Jefferies Group reiterated a “hold” rating and set a $34.00 target price on shares of Genomic Health in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $32.33.

Shares of Genomic Health (NASDAQ:GHDX) traded up $0.34 during midday trading on Tuesday, reaching $32.95. 283,960 shares of the company were exchanged, compared to its average volume of 174,615. Genomic Health has a 52 week low of $26.54 and a 52 week high of $37.50. The stock has a market cap of $1,166.00, a price-to-earnings ratio of -271.75 and a beta of 0.59.

In other news, insider Laura Leber sold 21,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $33.29, for a total value of $699,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO G Bradley Cole sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $29.94, for a total value of $149,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,338 shares of company stock valued at $2,305,951. Company insiders own 46.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Emory University increased its stake in shares of Genomic Health by 17.8% in the 4th quarter. Emory University now owns 62,926 shares of the medical research company’s stock worth $2,152,000 after purchasing an additional 9,487 shares in the last quarter. State Farm Mutual Automobile Insurance Co. increased its stake in shares of Genomic Health by 10.6% in the 4th quarter. State Farm Mutual Automobile Insurance Co. now owns 350,741 shares of the medical research company’s stock worth $11,995,000 after purchasing an additional 33,501 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Genomic Health in the 4th quarter worth $2,588,000. Citadel Advisors LLC increased its stake in shares of Genomic Health by 5.5% in the 4th quarter. Citadel Advisors LLC now owns 98,933 shares of the medical research company’s stock worth $3,384,000 after purchasing an additional 5,130 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Genomic Health in the 4th quarter worth $261,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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Genomic Health Company Profile

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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