GenMark Diagnostics (NASDAQ:GNMK) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other analysts have also recently weighed in on GNMK. BTIG Research set a $11.00 price objective on shares of GenMark Diagnostics and gave the stock a “buy” rating in a report on Monday, November 20th. Zacks Investment Research raised shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of GenMark Diagnostics in a report on Friday, January 19th. Finally, Canaccord Genuity cut their price objective on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. GenMark Diagnostics currently has an average rating of “Buy” and a consensus target price of $10.60.
Shares of GenMark Diagnostics (GNMK) traded down $0.15 during trading hours on Wednesday, reaching $5.33. 71,362 shares of the company traded hands, compared to its average volume of 476,345. The firm has a market capitalization of $284.11, a PE ratio of -4.40 and a beta of 0.99. GenMark Diagnostics has a 52-week low of $3.63 and a 52-week high of $13.67. The company has a current ratio of 3.44, a quick ratio of 3.04 and a debt-to-equity ratio of 0.29.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data on Tuesday, February 27th. The medical equipment provider reported ($0.26) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.26). GenMark Diagnostics had a negative net margin of 117.77% and a negative return on equity of 91.14%. The company had revenue of $16.02 million for the quarter, compared to analysts’ expectations of $15.82 million. research analysts predict that GenMark Diagnostics will post -0.78 EPS for the current fiscal year.
In other GenMark Diagnostics news, insider Hany Massarany sold 17,300 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $4.17, for a total transaction of $72,141.00. Following the sale, the insider now owns 722,190 shares of the company’s stock, valued at $3,011,532.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Kagnoff bought 10,000 shares of the stock in a transaction dated Thursday, March 1st. The shares were acquired at an average price of $4.22 per share, for a total transaction of $42,200.00. Following the completion of the transaction, the director now owns 74,413 shares of the company’s stock, valued at approximately $314,022.86. The disclosure for this purchase can be found here. In the last three months, insiders have sold 50,164 shares of company stock worth $217,957. 7.50% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Fairpointe Capital LLC purchased a new position in shares of GenMark Diagnostics during the fourth quarter worth approximately $220,000. Teachers Advisors LLC grew its position in shares of GenMark Diagnostics by 11.3% during the fourth quarter. Teachers Advisors LLC now owns 125,245 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 12,713 shares during the last quarter. Two Sigma Investments LP grew its position in shares of GenMark Diagnostics by 2,266.9% during the fourth quarter. Two Sigma Investments LP now owns 435,887 shares of the medical equipment provider’s stock worth $1,818,000 after acquiring an additional 417,471 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of GenMark Diagnostics during the fourth quarter worth approximately $618,000. Finally, Needham Investment Management LLC grew its position in shares of GenMark Diagnostics by 215.8% during the fourth quarter. Needham Investment Management LLC now owns 180,000 shares of the medical equipment provider’s stock worth $750,000 after acquiring an additional 123,000 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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