Leerink Swann Boosts Valuation Ragne on Luminex (LMNX)
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Price: $36.99 --0%
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
1 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Leerink Swann raised its valuation range on Outperform-rated Luminex (NASDAQ: LMNX) from $20-$21 to $21-$23 following due diligence.
The firm notes: "The FDA clearance of LMNX's gastrointestinal pathogen panel (GPP) boosted LMNX's stock modestly (+4% since Tuesday [1/15] vs. +1.2% for the Russell 2000), and there are still additional FDA catalysts through year-end. LMNX plans to launch its newborn screening panel in the U.S. in 1H13, and its CYP2C19 test for drug metabolism in 2H13. We realize all of these tests face various commercialization challenges. LMNX's GPP test must appeal to multiple hospital constituencies (e.g., labs and infection control), its newborn screening test faces off against an entrenched competitor, sticky customer base, and its 2C19 test enters a market where reimbursement has transitioned away from code stacking. We've thus modeled conservatively in 2013."
For an analyst ratings summary and ratings history on Luminex click here. For more ratings news on Luminex click here.
Shares of Luminex closed at $18.20 yesterday.
The firm notes: "The FDA clearance of LMNX's gastrointestinal pathogen panel (GPP) boosted LMNX's stock modestly (+4% since Tuesday [1/15] vs. +1.2% for the Russell 2000), and there are still additional FDA catalysts through year-end. LMNX plans to launch its newborn screening panel in the U.S. in 1H13, and its CYP2C19 test for drug metabolism in 2H13. We realize all of these tests face various commercialization challenges. LMNX's GPP test must appeal to multiple hospital constituencies (e.g., labs and infection control), its newborn screening test faces off against an entrenched competitor, sticky customer base, and its 2C19 test enters a market where reimbursement has transitioned away from code stacking. We've thus modeled conservatively in 2013."
For an analyst ratings summary and ratings history on Luminex click here. For more ratings news on Luminex click here.
Shares of Luminex closed at $18.20 yesterday.
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