GeneDx Holdings Stock Surges on Bullish Analyst Updates and Strong Earnings

GeneDx Holdings (WGS) shares soared nearly 13% on Wednesday, extending gains after an 8% rise the previous day. The rally follows a robust quarterly earnings report that exceeded analyst expectations, with revenue growth and profitability improvements driving optimism.

Three analysts raised price targets, reflecting confidence in the company's trajectory. TD Cowen's Dan Brennan lifted his target to $118 from $110, while BTIG's Mark Massaro issued the most aggressive upgrade to $125 from $100. Jefferies' Brandon Couillard maintained a neutral stance but increased his target to $95.

Management's upward revision of key guidance metrics further cemented the bullish sentiment. The stock's performance this week underscores market approval of GeneDx's operational turnaround and growth prospects.