MLV Maintains Buy on Genomic Health

MLV is out with its report today on Genomic Health GHDX, maintaining Buy. In its report, MLV writes, "Genomic Health ended 2Q:10 with $61 million in cash, cash equivalents, and investments; a decrease of $2.6 million from 1Q:11. The company has been profitable in four of the last five quarters. We project continued steady growth and profitability. We project net income of $3.4 million for the full year, in-line with the company's guidance of $3 to $5 million. MLV is maintaining its BUY recommendation and one-year price target of $31.50 for Genomic Health, Inc." At the time of posting, shares of GHDX were trading at $25.50, up 1.35% from Thursday's close.