Genomic Health reiterated at market outperform by JMP

Genomic Health, Inc. was reiterated by JMP Securities analyst Charles C. Duncan at a market outperform rating with a $16 price target. Confirmatory data on Oncotype DX is expected to be presented at an upcoming breast cancer conference, confirming the reliability, specificity and sensitivity of using the quantitative, gene-based prognostic assays in determining the potential for tumor recurrence. Heightened visibility could drive acceptance by doctors and insurance companies. Shares of the Redwood City, Calif., biotechnology company were down 75 cents, or 7.85%, at $8.81 on volume of 58,103 shares versus the three-month running average of 91,539.5 shares.

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