Cantor Starts Sequenom (SQNM) at Buy; $12 PT
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Cantor Fitzgerald initiates coverage on Sequenom (Nasdaq: SQNM) with a Buy rating and $12 price target.
The firm says "Sequenom's MassARRAY platform provides a quality and cost advantage in several genetic analysis segments including genotyping, gene expression and DNA methylation analysis — the fastest growth segments, about 25% in the next two years — and Sequenom is poised to capture both growth and market share..."
Cantor believes that Sequenom will become profitable in 2010, after a 2008 that should see product launches as positive catalysts.
Sequenom, Inc. provides genetic analysis products and services that translate genomic science into solutions for the biomedical research, molecular medicine, agricultural, and non-invasive prenatal testing markets. [BCS]
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