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GAITHERSBURG, Md. - GeneDx (NASDAQ: WGS), a genomic insights company valued at $1.64 billion, has launched its services on Aura, Epic’s specialty diagnostics suite, to facilitate advanced genetic sequencing within electronic health records (EHR). The company, which has shown impressive revenue growth of 29.41% over the last twelve months according to InvestingPro, marks UNC Health as its first integration partner through Aura, enhancing access to genetic diagnostics and expediting patient treatment. The integration, effective today, allows health systems to order GeneDx’s tests, including exome sequencing (ES), whole genome sequencing (WGS), and rapid whole genome sequencing (rWGS) directly within their EHR systems.
Dr. Michael Adams, a specialist in Pediatric Genetics and Metabolism at UNC Health, noted that Aura’s integration simplifies genetic test implementation and improves result clarity and accessibility within EHRs. This structured data format not only benefits patient care but also opens avenues for future research and quality enhancements.
GeneDx’s President and CEO, Katherine Stueland, emphasized the patient-centered approach of the company, stating that the Aura integration ensures fast and accurate genetic diagnoses are readily available to healthcare providers. The company’s commitment to delivering genomic insights has made it a trusted choice for genetics experts, with a track record of over 750,000 exomes and genomes sequenced.
The collaboration between GeneDx and UNC Health signals a growing trend in the adoption of genomic testing in clinical settings, with potential expansion across various medical specialties. GeneDx’s vast rare disease dataset positions it as a valuable resource for personalized medical care, drug discovery, and health system efficiency.
The information for this article is based on a press release statement from GeneDx.
In other recent news, GeneDx has been the focus of several recent developments. The company has faced allegations of fraud, including illegal code-stacking, as reported by Grizzly Research. However, both Jefferies and BTIG analysts have dismissed these claims as unfounded, maintaining their Hold and Buy ratings respectively on the company’s stock.
GeneDx has also provided a strong financial forecast, anticipating a 54% increase in annual revenue for 2024, reaching at least $299 million, and a 59% year-over-year rise in fourth quarter revenue, hitting at least $92 million. The company also expects an adjusted gross margin of at least 64% for 2024, and at least 68% for the fourth quarter.
TD Cowen analysts have expressed confidence in GeneDx’s future, raising the stock’s price target from $75.00 to $118.00 and maintaining a Buy rating. This outlook is based on a comprehensive review of GeneDx’s business model and financial projections, suggesting potential upsides of 13% for 2025 estimates and 24% for 2026.
Despite the allegations and the resulting short-term stock fluctuations, these recent developments show a continued belief in GeneDx’s resilience and future prospects by several major analyst firms.
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