GeneDx price target raised to $70 from $46 at Craig-Hallum

Craig-Hallum analyst Bill Bonello raised the firm’s price target on GeneDx (WGS) to $70 from $46 and keeps a Buy rating on the shares. The firm expects Q3 to be another beat-and-raise quarter with gross margin expansion and continued progress toward positive adjusted net income. Further, Craig-Hallum believes the numbers are conservative and that Q3 results should be a positive catalyst.