Zacks Investment Research upgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from a sell rating to a hold rating in a research note issued to investors on Wednesday 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. “
GNMK has been the subject of a number of other research reports. BidaskClub cut GenMark Diagnostics from a buy rating to a hold rating in a report on Thursday, October 4th. ValuEngine upgraded GenMark Diagnostics from a sell rating to a hold rating in a report on Friday, November 2nd. Finally, Needham & Company LLC restated a buy rating and issued a $11.00 price target on shares of GenMark Diagnostics in a report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $10.33.
Shares of NASDAQ:GNMK traded up $0.04 during trading on Wednesday, reaching $4.85. 504,605 shares of the stock were exchanged, compared to its average volume of 578,948. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.10 and a current ratio of 3.75. GenMark Diagnostics has a 12-month low of $3.98 and a 12-month high of $8.81. The stock has a market capitalization of $271.38 million, a P/E ratio of -4.01 and a beta of 1.26.
GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Monday, October 29th. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.20). GenMark Diagnostics had a negative return on equity of 95.36% and a negative net margin of 79.33%. The business had revenue of $15.80 million during the quarter, compared to analysts’ expectations of $15.76 million. Analysts predict that GenMark Diagnostics will post -0.86 earnings per share for the current year.
In other GenMark Diagnostics news, CEO Hany Massarany sold 6,203 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $7.16, for a total value of $44,413.48. Following the completion of the transaction, the chief executive officer now owns 682,491 shares in the company, valued at approximately $4,886,635.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 22,099 shares of company stock valued at $152,636. 7.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC purchased a new position in GenMark Diagnostics in the 2nd quarter worth approximately $115,000. Dynamic Technology Lab Private Ltd purchased a new position in GenMark Diagnostics in the 2nd quarter worth approximately $152,000. Fox Run Management L.L.C. purchased a new position in GenMark Diagnostics in the 2nd quarter worth approximately $168,000. Engineers Gate Manager LP acquired a new position in shares of GenMark Diagnostics in the 3rd quarter valued at approximately $213,000. Finally, Donaldson Capital Management LLC raised its position in shares of GenMark Diagnostics by 22.2% in the 2nd quarter. Donaldson Capital Management LLC now owns 83,003 shares of the medical equipment provider’s stock valued at $530,000 after purchasing an additional 15,075 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.
About GenMark Diagnostics
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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