Zacks Investment Research upgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from a sell rating to a hold rating in a research note released on Thursday morning.

According to Zacks, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California. “

Several other brokerages also recently issued reports on GNMK. Needham & Company LLC reissued a buy rating and set a $15.00 price target on shares of GenMark Diagnostics in a report on Wednesday, October 4th. Canaccord Genuity reissued a buy rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. Raymond James Financial reissued a market perform rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. BidaskClub raised shares of GenMark Diagnostics from a strong sell rating to a sell rating in a report on Wednesday. Finally, BTIG Research set a $11.00 price target on shares of GenMark Diagnostics and gave the company a buy rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $11.80.

Shares of GenMark Diagnostics (GNMK) opened at $5.85 on Thursday. The company has a current ratio of 2.97, a quick ratio of 2.77 and a debt-to-equity ratio of 0.12. GenMark Diagnostics has a 12 month low of $3.63 and a 12 month high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. During the same quarter in the previous year, the firm earned ($0.27) EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. equities analysts expect that GenMark Diagnostics will post -1.18 EPS for the current fiscal year.

In related news, Director Michael Kagnoff acquired 20,000 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average price of $4.13 per share, with a total value of $82,600.00. Following the completion of the acquisition, the director now directly owns 64,413 shares of the company’s stock, valued at approximately $266,025.69. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $4.74, for a total transaction of $39,114.48. Following the completion of the sale, the insider now directly 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 22,407 shares of company stock valued at $113,078 in the last ninety days. Corporate insiders own 7.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in GenMark Diagnostics by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,396,940 shares of the medical equipment provider’s stock valued at $41,288,000 after acquiring an additional 299,173 shares during the last quarter. Vanguard Group Inc. lifted its holdings in GenMark Diagnostics by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,169,476 shares of the medical equipment provider’s stock valued at $25,664,000 after acquiring an additional 212,795 shares during the last quarter. State Street Corp lifted its holdings in GenMark Diagnostics by 9.4% in the 2nd quarter. State Street Corp now owns 888,727 shares of the medical equipment provider’s stock valued at $10,515,000 after acquiring an additional 76,010 shares during the last quarter. Northpointe Capital LLC raised its holdings in GenMark Diagnostics by 24.4% during the 3rd quarter. Northpointe Capital LLC now owns 1,552,740 shares of the medical equipment provider’s stock worth $14,953,000 after buying an additional 304,232 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in GenMark Diagnostics by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,163 shares of the medical equipment provider’s stock worth $2,641,000 after buying an additional 18,235 shares during the period.

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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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