Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) were up 3.1% on Friday . The stock traded as high as $9.89 and last traded at $9.85, with a volume of 51,803 shares trading hands. The stock had previously closed at $9.55.

Several analysts have recently weighed in on GNMK shares. Canaccord Genuity reiterated a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, June 8th. Needham & Company LLC started coverage on shares of GenMark Diagnostics in a research report on Friday, June 17th. They set a “buy” rating and a $13.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $8.43.

The stock’s 50-day moving average is $9.10 and its 200 day moving average is $6.59. The stock’s market capitalization is $419.32 million.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. The business had revenue of $11.06 million for the quarter, compared to analysts’ expectations of $10.67 million. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) earnings per share. On average, analysts predict that GenMark Diagnostics Inc. will post ($1.23) earnings per share for the current fiscal year.

Several institutional investors recently modified their holdings of GNMK. Jennison Associates LLC raised its position in shares of GenMark Diagnostics by 7.3% in the fourth quarter. Jennison Associates LLC now owns 3,144,434 shares of the company’s stock valued at $24,401,000 after buying an additional 214,822 shares during the last quarter. I.G. Investment Management LTD. raised its position in shares of GenMark Diagnostics by 0.7% in the fourth quarter. I.G. Investment Management LTD. now owns 134,589 shares of the company’s stock valued at $1,044,000 after buying an additional 978 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of GenMark Diagnostics by 10,433.5% in the fourth quarter. Morgan Stanley now owns 1,338,286 shares of the company’s stock valued at $10,385,000 after buying an additional 1,325,581 shares during the last quarter.

GenMark Diagnostics, Inc (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States.

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