Breaking 52 week high on such low low micro volume does not have much of meaning...you should know that ...you claim to be pro-trader...GHDX does not have typical technical characteristic due to schewed ownership and low trade volume
Genomic Health (NASDAQ: GHDX) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday. The firm currently has a $43.00 price target on the stock. Zacks‘ analyst wrote, “Genomic Health reported a strong first quarter with both revenue and earnings sailing past the Zacks Consensus Estimates. The company recorded a robust increase in Oncotype DX tests delivered. Besides, the company is making progress on its colon cancer test based on the recent launch of MMR testing and some favorable reimbursement decisions. Moreover, Genomic is focusing on the international market that has recorded significant growth during the quarter. In spite of involving additional investment, we are encouraged by the company’s focus on sequencing. Given the long term potential of the company, we upgrade the stock to Outperform’. “ Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Genomic Health in a research note to investors on Thursday, May 3rd. Genomic Health traded up 2.59% on Wednesday, hitting $36.04. Genomic Health has a 52-week low of $19.00 and a 52-week high of $36.15. The company has a market cap of $1.083 billion and a price-to-earnings ratio of 123.70. Genomic Health last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.04. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts expect that Genomic Health will post $0.01 EPS next quarter. Genomic Health, Inc. (Genomic Health) is a molecular diagnostics company focused on the development and global commercialization of genomic-based clinical laboratory services , which analyzes the underlying biology of cancer, allowing physicians and patients to make individualized treatment decisions.
Zacks was completely wrong in its reports for several years, always too pessimistic. Now they turn optimistic and we are supposed to be impressed. An alternative is to ignore Zacks as always out of touch and look back to the growth of the company for confidence building.