RBC starts Genomic Health at sector perform

RBC Capital Markets analyst William R. Quirk began coverage of Genomic Health, Inc. at sector perform, speculative risk. The company's Oncotype Dx test is rapidly penetrating the $270 million early stage breast cancer market, according to the analyst. Domestic penetration rates rose to 14% in the second-quarter 2006 from 0.6% in 2004. RBC estimates that Oncotype Dx can grow to 24.5% penetration by the end of 2007, perhaps even more quickly with expanding clinical guidelines and favorable reimbursements. Shares of the Redwood City, Calif.-based biotechnology company were up 3 cents, or 0.21%, at $14.16 on volume of 174,117 shares versus the three-month running average of 128,770 shares. (Nasdaq: GHDX)

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