Jefferies Resumes Coverage on Gen-Probe (GPRO) at Buy, Launch of PANTHER in U.S.

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Jefferies is resuming coverage on shares of Gen-Probe (NASDAQ: GPRO) with a Buy rating and $75 price target as PANTHER is ready to arrive in the U.S.. They added embedded $10 into their price target to account for the commercial maturation of the company's pipeline over the next several years.

The firm reports that they envision PANTHER as the new go-to molecular platform, reinvigorating equipment sales and providing GPRO with sustainable leverage to consumable sales in STDs, blood screening, virology, and cancer. They have already launched it in Europe in December 2010 and has already targeted more than 800 laboratories.

For more ratings news on Gen-Probe click here and for the rating history of Gen-Probe click here.

Shares of Gen-Probe closed at $64.80 yesterday, with a 52 week range of $42.00-$66.12.

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