Auriga Reiterates a 'Buy' on Sequenom (SQNM); Raising Estimated T21 Test Volumes for 2012

Auriga reiterates a 'Buy' on Sequenom (NASDAQ: SQNM) price target of $8.00.

Auriga analyst said, "Sequenom previously announced a positive update on 2011, with revenue growing +23% Y/Y, ahead of both our estimate (+16%) and consensus (+17%). In addition, SQNM billed over 21,000 prenatal and AMD tests. For 2012, SQNM expects to bill a “minimum” of 25,000 T21 tests and announced the test is now available in all 50 states. Following our checks and SQNM’s expanded commercial footprint, we are increasing our 2012 volume estimates. We had been extremely conservative in our projections (10,000), due to the novel nature of the test. However, we believe an early, highly sensitive, non-invasive option for high risk pregnancies may expand the addressable market. We now expect SQNM will bill 45,000 tests in 2012."

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 $4.22 yesterday.

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