BTIG Research Analysts Give GenMark Diagnostics, Inc. (GNMK) a $11.00 Price Target
BTIG Research set a $11.00 price target on GenMark Diagnostics, Inc. (NASDAQ:GNMK) in a research report report published on Monday. The brokerage currently has a buy rating on the medical equipment provider’s stock.
“The fact that ACOR announced this morning that it will discontinue the tozadenant program (stopping dosing in all currently enrolled studies) came as little surprise following last week’s disclosure of safety issues (our thoughts here). Timing was the only marginal surprise, but based on additional analyses, the company determined that the recently instituted weekly white blood cell count screening may not be adequate to fully ensure the safety of patients. Though this morning’s headline has little incremental impact, it does highlight the added pressure on Inbrija (which is delayed itself following the RTF earlier this year) and formally removes the potential for near- term leverage in the business. Maintain Neutral.”,” the firm’s analyst commented.
A number of other brokerages have also issued reports on GNMK. BidaskClub upgraded GenMark Diagnostics from a sell rating to a hold rating in a research note on Monday, July 24th. Canaccord Genuity reiterated a buy rating and issued a $14.00 price target (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Monday, August 7th. Cowen and Company reiterated an outperform rating and issued a $17.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a buy rating and issued a $15.00 price target (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. Finally, Bank of America Corporation assumed coverage on GenMark Diagnostics in a research note on Monday, September 18th. They issued a buy rating and a $13.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. GenMark Diagnostics presently has an average rating of Hold and an average price target of $11.80.
GenMark Diagnostics (GNMK) opened at $4.64 on Monday. GenMark Diagnostics has a twelve month low of $3.63 and a twelve month high of $13.67. The company has a quick ratio of 2.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.12.
GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The company had revenue of $11.60 million during the quarter, compared to the consensus estimate of $14.56 million. During the same period in the prior year, the business posted ($0.27) earnings per share. GenMark Diagnostics’s revenue for the quarter was up 7.4% compared to the same quarter last year. equities research analysts predict that GenMark Diagnostics will post -1.17 EPS for the current year.
In other news, SVP Eric Stier sold 2,750 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.60, for a total transaction of $26,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hany Massarany sold 8,252 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $4.74, for a total value of $39,114.48. Following the transaction, the insider now owns 362,957 shares of the company’s stock, valued at approximately $1,720,416.18. The disclosure for this sale can be found here. Insiders sold a total of 59,650 shares of company stock valued at $471,189 in the last quarter. 7.50% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of GNMK. BlueCrest Capital Management Ltd purchased a new position in shares of GenMark Diagnostics during the second quarter valued at about $126,000. Legal & General Group Plc grew its position in shares of GenMark Diagnostics by 2.1% during the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 240 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of GenMark Diagnostics during the second quarter valued at about $137,000. Quantitative Systematic Strategies LLC grew its position in shares of GenMark Diagnostics by 18.4% during the second quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock valued at $159,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Wrapmanager Inc. purchased a new position in shares of GenMark Diagnostics during the third quarter valued at about $172,000.
About GenMark Diagnostics
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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