Cantor Fitzgerald Upgrades Genomic Health (GHDX) to Buy
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Cantor Fitzgerald upgrades Genomic Health (Nasdaq: GHDX) from Hold to Buy and raises its price target from $27 to $34.
The firm noted Genomic's Wall Street earnings beat yesterday, but said the most important part about the report was Genomic's strong delivery numbers for its Oncotype DX test system. In Q4, the Company delivered more than 7,200 test machines, topping Cantor's estimate of 6,700 units.
Cantor attributes its upgrade to a better outlook through 2010, including the possibility of a launch of a new diagnostic test system for early-stage colon cancer in 2009 or 2010.
Genomic Health, Inc., a life science company, engages in the development and commercialization of genomic-based clinical diagnostic tests for cancer in the United States.
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