Jefferies Raises price Target on Genomic Health (GHDX) Following Initial 2016 Outlook

Jefferies reiterated a Hold rating on Genomic Health Inc. (NASDAQ: GHDX), and raised the price target to $25.00 (from $24.00). Consistent with commentary last month, GHDX reiterated its 2016 revenue outlook ($328M mid-pt), which implies a sharp growth acceleration on the back of full-year contributions from recent reimbursement wins for both prostate & key OUS markets.

Analyst Brandon Couillard commented, "GHDX's initial 2016 outlook calls for accelerating revenue growth (>+10%) on reimbursement in Prostate & Int'l, though incremental investments will defer a profitability inflection until 2017. While we remain neutral on the stock, the fundamental story here is improving as GHDX begins to harvest years of pipeline investments."

For an analyst ratings summary and ratings history on Genomic Health Inc. click here. For more ratings news on Genomic Health Inc. click here.

Shares of Genomic Health Inc. closed at $26.72 yesterday.

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