Canaccord Genuity Reiterates a 'Buy' on GenMark Diagnostics (GNMK); Comfort Level Improving; Raise PT
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Price: $24.04 --0%
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
Rating Summary:
2 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 11
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Canaccord Genuity reiterates a 'Buy' on GenMark Diagnostics (NASDAQ: GNMK), PT increased from $8 to $11.
Canaccord analyst says, "We reiterate our rating and increase our price target as we become more comfortable with instrument placement rates and test menu expansion at GenMark...We still expect GNMK to place between 130-140 XT-8 instruments and launch two new tests (Respiratory Virus Panel and HCVresearch use only) this year."
"We have revised down our 2011 and 2012 EPS estimate to account for the move to Carlsbad from Pasadena along with the FDA certification of GNMK’s new facility and higher R&D spend for PMA products, respectively. Our revenue assumptions are unchanged."
For more ratings news on GenMark Diagnostics click here and for the rating history of GenMark Diagnostics click here.
Shares of GenMark Diagnostics closed at $5.27 yesterday.
Canaccord analyst says, "We reiterate our rating and increase our price target as we become more comfortable with instrument placement rates and test menu expansion at GenMark...We still expect GNMK to place between 130-140 XT-8 instruments and launch two new tests (Respiratory Virus Panel and HCVresearch use only) this year."
"We have revised down our 2011 and 2012 EPS estimate to account for the move to Carlsbad from Pasadena along with the FDA certification of GNMK’s new facility and higher R&D spend for PMA products, respectively. Our revenue assumptions are unchanged."
For more ratings news on GenMark Diagnostics click here and for the rating history of GenMark Diagnostics click here.
Shares of GenMark Diagnostics closed at $5.27 yesterday.
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