Canaccord Genuity Raises 2012 Estimates on GenMark Diagnostics (GNMK); Sales Force Expansion & Improved Lab Utilization

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Canaccord Genuity reiterates a 'Buy' on GenMark Diagnostics (NASDAQ: GNMK) price target of $12.00.

Analyst, Jeffrey Frelick, said, "We reiterate our BUY on GNMK after management raised its revenue outlook for Q2 and full-year 2012 by 50% to reflect higher test utilization...We raise our 2012 revenue estimate to $15.1M (+201% Y/Y), up from $11.4M. We raise 2012E EPS by $0.04 to ($1.23) and our GM projection by 690bps to 34.8%. We are maintaining our 2013 estimates at this time.

For an analyst ratings summary and ratings history on GenMark Diagnostics click here. For more ratings news on GenMark Diagnostics click here.

Shares of GenMark Diagnostics closed at $4.45 yesterday, with a 52 week range of $3.63-$6.95.

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