Oppenheimer Sees Increased Clarity at Sequenom (SQNM)

Oppenheimer analyst Ling Wang reiterated an Outperform on Sequenom (NASDAQ: SQNM) following Q1 results, saying gaining clarity on royalty conversion.

Wang commented, "Slightly soft diagnostic revenues were offset by new licensing fee revenue from the patent pool. The final payment on the ILMN patent pool deal came through in Q1 and drove EPS sharply higher than consensus. Excluding the payment, reported EPS was in line with the Street. Given uncertainty around the timing of customer conversions to in-house testing and growth in the average risk market, management guided toward the low end of the 2015 revenue guidance range. For 2015 management continues to target over 200K in accessioned tests and stable MaterniT21 volumes."

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 $3.79 yesterday.

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