Illumina (ILMN) Will Require 'Significant Investment' to Compete with Sequenom (SQNM)
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Price: $2.39 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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On Monday morning, Sequenom (NASDAQ: SQNM) reported preliminary 2012 revenue that topped estimates. Despite this, shares traded lower. In related news, Illumina, Inc. (Nasdaq: ILMN) signed a definitive agreement to acquire Verinata Health, Inc., a leading provider of non-invasive tests for the early identification of fetal chromosomal abnormalities, for consideration of $350 million plus up to $100 million in milestone payments through 2015.
Commenting on developments, analyst David Ferreiro, Ph.D. said, "We note SQNM controls ~90% of the market with Verinata taking a negligible share of the remainder. In our view, Verinata requires significant additional investment to build infrastructure in order to effectively compete with SQNM"
SQNM recently launched its MaterniT21 test for Trisomy 21.
Oppenheimer reiterated an Outperform rating on Sequenom (NASDAQ: SQNM) with a price target of $10.00.
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 $5.23 yesterday.
Commenting on developments, analyst David Ferreiro, Ph.D. said, "We note SQNM controls ~90% of the market with Verinata taking a negligible share of the remainder. In our view, Verinata requires significant additional investment to build infrastructure in order to effectively compete with SQNM"
SQNM recently launched its MaterniT21 test for Trisomy 21.
Oppenheimer reiterated an Outperform rating on Sequenom (NASDAQ: SQNM) with a price target of $10.00.
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 $5.23 yesterday.
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