It continued to experience excessive on its strong second-quarter efficiency.
GeneDx (WGS 12.78%) shareholders are having fairly a spectacular week, and it is not over but. On Wednesday, the corporate’s inventory soared once more, notching a virtually 13% pop after the day before today’s 8%-plus enhance. Nonetheless basking within the glow of a fantastic quarterly earnings report, GeneDx was bolstered by a number of new, bullish analyst updates.
The ability of the pundit
GeneDx’s second-quarter earnings launch confirmed not solely an unlimited enchancment in income and a flip into the black on the underside line, however these fundamentals got here in considerably increased than the consensus analyst estimates. As if that weren’t sufficient, administration raised a number of key steering gadgets.
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It wasn’t arduous to be optimistic concerning the firm’s future within the wake of such outcomes. Accordingly, at least three analysts monitoring GeneDx raised their worth targets on its shares.
TD Cowen’s Dan Brennan was probably the most conservative of the trio, as he bumped his truthful worth evaluation increased to $118 per share from his earlier $110 whereas sustaining his purchase advice. Wells Fargo pundit Brandon Couillard stays extra cautious, as he stored his equal weight (learn: maintain) designation intact however lifted his worth goal to $95 per share from $78.
No denying the strong outcomes
Probably the most assertive elevate of the three got here from BTIG’s Mark Massaro, who now feels GeneDx is value $125 per share, nicely up from the analyst’s previous degree of $100. Massaro stays bullish on the corporate, since he maintained his present purchase advice.
In line with stories, the BTIG pundit wrote in his new tackle the corporate that not solely was its second quarter spectacular, however it may additionally profit from a number of components together with decrease check denial charges from healthcare suppliers.
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