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Investing.com - BTIG raised its price target on GeneDx (NASDAQ:WGS) to $125.00 from $100.00 on Wednesday, while maintaining a Buy rating following the company’s second-quarter results. The stock, currently trading at $91.78 with a market capitalization of $2.42 billion, has shown remarkable momentum with a 204% return over the past year.
GeneDx reported what BTIG described as a "strong bounce-back" in Q2, exceeding top-line expectations by more than $17 million, representing a 20% beat. The company also surpassed bottom-line forecasts by $15 million. According to InvestingPro data, the company’s revenue growth stands at an impressive 48.81% over the last twelve months, with a "GOOD" overall financial health score.
The diagnostic testing firm achieved a GAAP net income margin exceeding 10%, which BTIG noted is significant for the precision lab diagnostics sector. GeneDx also delivered a core average selling price (ASP) of more than $3,700 per test, substantially higher than BTIG’s estimate of $3,470.
GeneDx has raised its 2025 guidance beyond the Q2 beat, with the company indicating that the new ASP level represents a floor. Test denial rates remain elevated in the mid-40% range, suggesting potential for improvement.
BTIG believes GeneDx can eventually reduce payer denial rates to below 20% and potentially near 10%, which would provide significant upside to ASPs, gross margins, and cash flows.
In other recent news, GeneDx Holdings Corp reported impressive financial results for the second quarter of 2025. The company achieved earnings per share of $0.50, which was significantly higher than the forecasted $0.12. This represented a remarkable earnings surprise of 316.67%. Additionally, GeneDx’s revenue reached $102.7 million, surpassing the expected $85.45 million by 20.19%. These financial achievements indicate a strong performance for the company in the recent quarter. The substantial earnings and revenue figures are critical data points for investors evaluating GeneDx’s financial health. While the earnings call transcript highlighted these results, it did not include any analyst upgrades or downgrades at this time.
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