GeneDx Holdings (WGS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mark Massaro from BTIG reiterated a Buy rating on the stock and has a $95.00 price target.
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Mark Massaro’s rating is based on a combination of factors including GeneDx Holdings’ strong position in the rare disease and whole exome testing market. Despite a recent short report alleging misconduct, Massaro believes these claims lack substance and do not accurately reflect the company’s operations. GeneDx has confirmed that it adheres to appropriate billing practices, focusing on core CPT codes for genome and exome testing.
Massaro also emphasizes the strategic decisions made by GeneDx’s management, such as shutting down the underperforming Sema4 business and resolving issues with UnitedHealthcare. These actions, along with positive employee morale and a significant financial turnaround, reinforce the company’s potential for sustained growth. Massaro views the current dip in stock prices as an opportunity for investors, maintaining a Buy rating and a price target of $95, supported by a detailed valuation analysis.
In another report released today, Craig-Hallum also maintained a Buy rating on the stock with a $95.00 price target.