JMP reiterates outperform rating of Genomic Health

Genomic Health Inc. was reiterated by JMP Securities analyst Charles C. Duncan at an outperform rating and $16 price target. Genomic announced that the National Heritage Insurance Co., a national Medicare contractor, will begin covering reimbursement of the Oncotype DX test for breast cancer patients in California at the end of February. This is expected to broaden use and increase sales of the company's prognostic test, JMP said. Shares of the Redwood, Calif., biotechnology company were up $2.24, or 18.01%, at $14.68 on volume of 1,127,463 shares versus the three-month running average of 76,146 shares. (Nasdaq: GHDX)

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