GenMark Diagnostics, Inc. (GNMK) Stock Rating Reaffirmed by Cowen and Company
GenMark Diagnostics, Inc. (NASDAQ:GNMK)‘s stock had its “buy” rating reiterated by Cowen and Company in a note issued to investors on Friday. They presently have a $10.00 target price on the medical equipment provider’s stock. Cowen and Company’s price objective points to a potential upside of 159.74% from the company’s current price.
Several other equities analysts have also commented on GNMK. Canaccord Genuity restated a “buy” rating and set a $14.00 price target on shares of GenMark Diagnostics in a research note on Monday, October 30th. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, October 4th. Raymond James Financial, Inc. restated a “market perform” rating on shares of GenMark Diagnostics in a research note on Friday. Finally, BTIG Research restated a “buy” rating and set a $13.00 price target on shares of GenMark Diagnostics in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.20.
GenMark Diagnostics (NASDAQ:GNMK) traded down $0.50 on Friday, reaching $3.76. The company’s stock had a trading volume of 2,728,781 shares, compared to its average volume of 700,287. 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 quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $11.60 million for the quarter, compared to analysts’ expectations of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.27) EPS. equities research analysts expect that GenMark Diagnostics will post -1.06 EPS for the current fiscal year.
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In other GenMark Diagnostics news, SVP Eric Stier sold 2,750 shares of GenMark Diagnostics stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.60, for a total value of $26,400.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hany Massarany sold 8,311 shares of GenMark Diagnostics stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $9.45, for a total value of $78,538.95. Following the completion of the transaction, the insider now owns 372,797 shares in the company, valued at approximately $3,522,931.65. The disclosure for this sale can be found here. Insiders sold 58,917 shares of company stock worth $539,162 in the last quarter. 7.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in GenMark Diagnostics by 13.6% in the second quarter. FMR LLC now owns 8,020,502 shares of the medical equipment provider’s stock valued at $94,883,000 after purchasing an additional 962,822 shares during the last quarter. JPMorgan Chase & Co. grew its stake in GenMark Diagnostics by 15.8% in the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after purchasing an additional 559,629 shares during the last quarter. Jennison Associates LLC grew its stake in GenMark Diagnostics by 0.7% in the third quarter. Jennison Associates LLC now owns 3,567,001 shares of the medical equipment provider’s stock valued at $34,350,000 after purchasing an additional 25,254 shares during the last quarter. HighTower Advisors LLC grew its stake in GenMark Diagnostics by 12.7% in the second quarter. HighTower Advisors LLC now owns 2,360,984 shares of the medical equipment provider’s stock valued at $27,930,000 after purchasing an additional 266,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in GenMark Diagnostics by 25.2% in the second quarter. Artisan Partners Limited Partnership now owns 2,252,831 shares of the medical equipment provider’s stock valued at $26,651,000 after purchasing an additional 453,329 shares during the last quarter.
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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