Barclays Maintains an 'Overweight' on Sequenom (SQNM); MaterniT21 Launches with Publication of Validation Study Results
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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: 11 | New: 14
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Barclays maintains an 'Overweight' on Sequenom (NASDAQ: SQNM) price target of $9.00.
Barclays analyst says, "The news: SQNM announced the publication of its T21 validation study in the journal Genetics in Medicine, while concurrently launching its non-invasive prenatal test, MaterniT21. The timing is ahead of expectations for a late 11Q4/early 12Q1 launch, providing SQNM a greater first-mover advantage vs. competitors like Verinata."
"MaterniT21 launch, backed by robust clinical data, should drive increasing investor interest. We update our model to reflect the earlier than expected T21 launch, spotty initial reimbursement, and future commercialization plans. We also expect SQNM to raise additional capital in order to ramp capacity and maintain operational flexibility."
For more ratings news on Sequenom click here and for the rating history of Sequenom click here.
Shares of Sequenom closed at $5.56 yesterday.
Barclays analyst says, "The news: SQNM announced the publication of its T21 validation study in the journal Genetics in Medicine, while concurrently launching its non-invasive prenatal test, MaterniT21. The timing is ahead of expectations for a late 11Q4/early 12Q1 launch, providing SQNM a greater first-mover advantage vs. competitors like Verinata."
"MaterniT21 launch, backed by robust clinical data, should drive increasing investor interest. We update our model to reflect the earlier than expected T21 launch, spotty initial reimbursement, and future commercialization plans. We also expect SQNM to raise additional capital in order to ramp capacity and maintain operational flexibility."
For more ratings news on Sequenom click here and for the rating history of Sequenom click here.
Shares of Sequenom closed at $5.56 yesterday.
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