GeneDx price target raised to $140 from $120 at Piper Sandler

Piper Sandler raised the firm’s price target on GeneDx (WGS) to $140 from $120 and keeps an Overweight rating on the shares. The firm maintains a positive outlook on GeneDx, supported by its unique data asset, demonstrated execution, and compelling growth prospects. Piper thinks the company’s ability to build markets within the evolving rare disease testing landscape, coupled with its strategic expansion into high-potential areas like the NICU and general pediatrics, creates a compelling multi-year growth story. While the firm is mindful of the execution risks involved in scaling new markets and integrating acquisitions, Piper believes GeneDx’s leadership, differentiated data moat, and proactive strategy position it well. The stock has had a nice run, but the firm still likes the stock and recommends buying more on a pullback.