Wedbush Upgrades Sequenom (SQNM) to Neutral; Limited Near-Term Negative Catalysts
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Price: $2.39 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Sequenom (NASDAQ: SQNM) from Underperform to Neutral, price target raised from $3 to $5.
Analyst, Zarak Khurshid, said, "Upgrading to reflect MaterniT21 progress and limited near-term negative catalyst potential. SQNM has effectively met development and commercial launch milestones in the last 12 months and has driven significant test volume in the first six months of launch...Now that the company is six months into launch and uptake appears to be consistently healthy, we believe it now makes sense to look farther out than 2012. Our prior $3 price target assumes $15 MM in 2012 T21 revenue and a 10x diagnostics revenue multiple plus 1x 2012 life science sales."
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 $4.66 yesterday.
Analyst, Zarak Khurshid, said, "Upgrading to reflect MaterniT21 progress and limited near-term negative catalyst potential. SQNM has effectively met development and commercial launch milestones in the last 12 months and has driven significant test volume in the first six months of launch...Now that the company is six months into launch and uptake appears to be consistently healthy, we believe it now makes sense to look farther out than 2012. Our prior $3 price target assumes $15 MM in 2012 T21 revenue and a 10x diagnostics revenue multiple plus 1x 2012 life science sales."
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 $4.66 yesterday.
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