Auriga Maintains a 'Buy' on Sequenom (SQNM); MaterniT21 off to a Good Start
Tweet
Share
E-mailGet Alerts SQNM Hot Sheet
Price: $2.39 --0%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Join SI Premium – FREE
Auriga maintains a 'Buy' on Sequenom (NASDAQ: SQNM) price target of $8.00.
Auriga analyst said, "Yesterday, Sequenom reported 4Q11 revenue of $15.5M, essentially in line with the consensus ($16M) and our $15M estimate. More interesting, SQNM disclosed it billed 1,000 tests through year-end and "over 2,500 tests" in the first two months of this year, which is ahead of our 2,800 estimate for the entire quarter. SQNM noted demand continues to increase week over week and is tracking to surpass 20,000 tests in 2012, a level we view as conservative. Revenue continues to lag due to cash accrual accounting rules. Overall, the launch of MaterniT21 is progressing well and we expect SQNM could bill 45,000 tests in 2012. Given the recent pull back in the shares and continued positive clinical checks, we view the current level as a good entry point."
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 $3.66 yesterday.
Auriga analyst said, "Yesterday, Sequenom reported 4Q11 revenue of $15.5M, essentially in line with the consensus ($16M) and our $15M estimate. More interesting, SQNM disclosed it billed 1,000 tests through year-end and "over 2,500 tests" in the first two months of this year, which is ahead of our 2,800 estimate for the entire quarter. SQNM noted demand continues to increase week over week and is tracking to surpass 20,000 tests in 2012, a level we view as conservative. Revenue continues to lag due to cash accrual accounting rules. Overall, the launch of MaterniT21 is progressing well and we expect SQNM could bill 45,000 tests in 2012. Given the recent pull back in the shares and continued positive clinical checks, we view the current level as a good entry point."
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 $3.66 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Downgrades UBS AG (UBSG:SW) (UBS) to Neutral
- Oppenheimer Reiterates Outperform Rating on Take-Two Interactive (TTWO)
- Evercore ISI Reiterates Outperform Rating on IBM (IBM), positive about potential HCP acqusition
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
AurigaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
