I'm not done with this dummy....I read where matt lowered his price target on GHDX to $22 from $24.
So in January with the stock at $22 and with a $24 price target, it was a Buy.
8 months later, with the stock still at $22 (in the midst of a bear market) and with the company having RAISED guidance going forward, shrewd ole Matt lowers his price target to $22 and lowers his rating to a Hold.
How can that be? Is this dummy implying he knows more about GHI's future than the management team of GHI? Does he really think they'd raise guidance if the business was stalling or backpedalling?
For what it's worth, GHDX trades in line with the AMEX Biotechnology Index (btk) and since 1992, the strongest 2 quarters for this index are the 3rd and 4th quarters with avg gains of 5.24% and 9.67% respectively.
Maybe Matt was in Wash DC over the weekend at the ASCO Breast Cancer Symposium....maybe he was drinking MammaPrint Kool Aid?
GHI and Oncotype DX are the Big Dogs.
Let's see what the S&P analyst says when he updates GHI for last quarter. S&P currently rate GHDX a Strong Buy with a $28 price target.
I'm just guessing here....but I guess S&P won't lower their price target and opinion when the company beats expectations and raises guidance....just guess, now....but let's see...