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Wedbush Cuts Price Target on Sequenom (SQNM) to $3.50 Ahead of 2Q15 Results

August 4, 2015 9:58 AM EDT
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Price: $2.39 --0%

Rating Summary:
    3 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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Wedbush maintained a Neutral rating on Sequenom (NASDAQ: SQNM), and cut the price target to $3.50 (from $4.50), ahead of 2Q15 earnings release. Analyst Zarak Khurshid expects SQNM to post sales of $38 MM and an EPS loss of ($0.06). SQNM is scheduled to release its 2Q15 results after the market close on Wednesday, August 5th.

Zarak commented, "Expecting a top-line beat. We think the pendulum has swung too far following the prior quarter’s disappointment and recent competitive noise, in our view. We expect SQNM to post sales of $38 MM and an EPS loss of ($0.06) when the company reports 2Q15 results after the market close on Wednesday, August 5th, 2015 (5:00 pm EDT conference call, dial-in 877-883-0383, passcode: 4868059 webcast: www.sequenom.com). Consensus EPS estimates are for revenue of $36 MM and a loss of ($0.05)."

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

Shares of Sequenom closed at $2.70 yesterday.



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