Genomic Health reiterated at outperform by JMP

JMP Securities analyst Charles C. Duncan reiterated Genomic Health, Inc. at market outperform on the Food and Drug Administration's increased scrutiny of the company's Oncotype DX. The expected scrutiny and weakness provides a buying opportunity, according to the analyst. In addition, the FDA posted draft regulatory guidelines for public comment regarding genetic tests being marketed and in development. In Vitro Diagnostic Multivariate Index Assays, such as Oncotype DX, will require FDA approval. Shares of the Redwood City, Calif.-based biotechnology company were down $2.43, or 17.38%, at $11.55. (Nasdaq: GHDX)

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