Sequenom (SQNM) PT Cut to $0.75 at Jefferies

Jefferies analyst Brandon Couillard reiterated a Hold rating and cut his price target on Sequenom (NASDAQ: SQNM) to $0.75 (from $1.50) following a thesis update.

Couillard commented, "SQNM remains in the early-innings of a complex turnaround. While efforts to restore growth & reduce its cost structure should become more evident over the coming periods, SQNM's longer-term prospects (including the refinancing of its $130M of convertible notes) remain challenged, in our view. We are publishing our revised model & reducing our PT to $0.75 (from $1.50)."

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 $0.85 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Apollo Hospitals (APLH:IN) PT Raised to INR8,500 at ICICI Securities
• GMR Airports Infrastructure (GMRI:IN) PT Raised to INR99 at ICICI Securities