UPDATE: Goldman Sachs Initiates Genomic Health at Neutral on Limited Upside
Goldman Sachs initiated coverage on Genomic Health (NASDAQ: GHDX) with a Neutral rating and a $36 price target.
Goldman Sachs commented, "Our thesis is based on (1) growth potential from new product cycles offset by (2) underappreciated market development costs and (3) mounting competition and an uncertain regulatory environment. How we are different: Our proprietary analysis of GHDX's new products and the regulatory landscape suggests these new tests may improve on the standard of care but face material uncertainties that are not yet fully appreciated by the Street."
Genomic Health closed at $33.77 on Wednesday.
Latest Ratings for GHDX
|Nov 2014||Credit Suisse||Maintains||Neutral|
|Nov 2014||Bank of America||Maintains||Underperform|
|Nov 2014||Canaccord Genuity||Maintains||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.