Jefferies Resumes Sequenom (SQNM) at Buy
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Jefferies resumes coverage on Sequenom (NASDAQ: SQNM) with a Buy rating and a price target of $5.00 (from $4.50).
Analyst Brandon Couillard said, "Our revised revenue and EPS forecasts reflect the effects of SQNM’s recent divestiture of its Biosciences unit, as well as expectations for a profitability & cash flow inflection in 4Q14."
The firm lifted FY 2014 EPS from ($0.75) to ($0.31).
Shares of Sequenom closed at $3.97 yesterday.
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