Leerink Swann upgraded Genomic Health Inc. (NASDAQ: GHDX) from Market Perform to Outperform,
raised its valuation range from $30~$32 to $32~$34 saying upcoming catalysts could improve sentiment on the name.
In its upgrade catalysts, the firm cited prostate data presentation in May. The company's collaborator is scheduled to present its prostate cancer test validation data on May 8th at the annual meeting of the American Urological Association (AUA) in San Diego. In Sept. 2012, Genomic Health announced that its test met its primary endpoint by predicting adverse pathology for patients with early stage prostate cancer, the analyst highlights.
The analyst said recent conversations with 3 MEDACorp urologists suggest the initial indication for GHDX's prostate test will have value.