Canaccord analyst Kyle Mikson lowered the firm’s price target on GeneDx to $75 from $100 and keeps a Buy rating on the shares. The firm said their price target decrease is driven by more muted ASP and test volume expansion in the near term, leading to reduced revenue estimates throughout their 10- year DCF model. The company announced 1Q26 results that were below consensus. The miss was driven by rapidly increasing outpatient genome (WGS) mix (lower pricing than exome (WES)) and softer non-core business trends.
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