Auriga Reiterates a 'Buy' on Sequenom (SQNM); T-21 Manuscript Submitted; Key Timelines Remain On Track

Auriga reiterates a 'Buy' on Sequenom (NASDAQ: SQNM) price target raised by $1 to $8.

Auriga analyst says, "SQNM reported 2Q11 revenues of $13.3MM, in line with the consensus ($13.3MM) and a tad below our $13.7MM estimate. SQNM's T-21 LDT clinical validation study was submitted for publication by the Principle Investigators (PIs), and is awaiting acceptance. As such, a T-21publication remains on track for the turn of the year, followed closely after by commercial launch. In turn, the AMD test has been launched and generated revenue in the quarter. Overall, it was a good quarter of progress for SQNM and the next several months promise to be a busy on the news flow front...We adjusted our 2011 revenue and EPS estimates to $55.6MM/$(0.77) due to modestly higher R&D costs."

For more ratings news on Sequenom click here and for the rating history of Sequenom click here.

Shares of Sequenom closed at $6.38 yesterday.

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