It continued to experience excessive on its strong second-quarter efficiency.
GeneDx (WGS 12.78%) shareholders are having fairly a spectacular week, and it isn’t over but. On Wednesday, the corporate’s inventory soared once more, notching a virtually 13% pop after the day prior to this’s 8%-plus improve. 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 steerage gadgets.
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It wasn’t onerous to be optimistic in regards to the firm’s future within the wake of such outcomes. Accordingly, a minimum of three analysts monitoring GeneDx raised their worth targets on its shares.
TD Cowen’s Dan Brennan was essentially 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 price $125 per share, properly up from the analyst’s previous stage of $100. Massaro stays bullish on the corporate, since he maintained his present purchase advice.
In keeping with experiences, the BTIG pundit wrote in his new tackle the corporate that not solely was its second quarter spectacular, however it could possibly additionally profit from a number of components together with decrease take a look at denial charges from healthcare suppliers.
Wells Fargo is an promoting companion of Motley Idiot Cash. Eric Volkman has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.
