BTIG raised the firm’s price target on GeneDx to $35 from $19 and keeps a Buy rating on the shares. The stock is up 890% year-to-date and still trades at a reasonable 2.6-times expected 2025 revenue, having built momentum following its big 24% Q1 revenue beat, the analyst tells investors in a research note. GeneDx has also raised its 2024 revenue, gross margin, and cash burn target, and now its goal to achieve profitability in 2025 is coming into clearer sight, the firm added.
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