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Analyst Downgrades Genomic Health for Lackluster Seasonal Oncotype DX Growth

Nov 02, 2007
NEW YORK (GenomeWeb News) - An analyst for financial services firm Cantor Fitzgerald has downgraded Genomic Health’s stock to a ‘hold’ from a ‘buy’ based on the company’s third-quarter earnings, which were released on Wednesday.
 
The analyst’s report said growth in Oncotype Dx sales were less than expected within seasonal variation.  
 
As GenomeWeb Daily News reported, Genomic Health reported that third-quarter revenue growth grew 124 percent to $15.9 million while the firm's net loss narrowed 11 percent to $7.3 million.  

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