The index fell more than 11 percent in December, underperforming the Dow and the Nasdaq, but performing on par with the Nasdaq Biotechnology Index.
The investment bank called Genomic Health a leader in diagnostic testing and said Invitae will benefit from growth trends in the genetic testing sector.
There were more mergers and acquisitions in the omics space in 2018, reversing the decline experienced in 2017.
Cowen gave the company a rating of Outperform while JP Morgan assigned its shares a Neutral rating.
After six straight months of gains, the index saw a sharp drop in October that even positive earnings news could not stave off.
The firm said genomic testing volume rose 23 percent year over year, and raised its revenue guidance for full-year 2018.
Analysts cited Guardant's strong liquid biopsy testing portfolio, specifically its Guardant360 assay, as reasons for their optimistic views.
The investment bank said that PacBio's SMRT sequencing technology has always been attractive compared to traditional NGS shotgun sequencing.
The analyst said Myraid's GeneSight and NIPT products present near-term opportunities that "should help power earnings upside in the years to come."
The investment bank said it is encouraged by the company's strong pipeline and position among its competitors but sees further upside for its stock.
John Mendelsohn, a former president of the University of Texas MD Anderson Cancer Center, has died, the New York Times reports.
Chinese state news agency Xinhua reports that a preliminary investigation has found He Jiankui performed his gene-editing work illegally.
Identical twins receive different estimates of ancestry from the same direct-to-consumer genetic testing firms, CBC reports.
In PNAS this week: chromosomal features of maize, adaptations in the vinous-throated parrotbill, and more.