GenMark Diagnostics Inc. (GNMK) Shares Up 3.1%
GenMark Diagnostics Inc. (NASDAQ:GNMK) shot up 3.1% during mid-day trading on Friday . The stock traded as high as $9.89 and last traded at $9.85, with a volume of 51,803 shares traded. The stock had previously closed at $9.55.
Several research firms have issued reports on GNMK. Needham & Company LLC restated a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Canaccord Genuity reiterated a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. GenMark Diagnostics currently has an average rating of “Buy” and a consensus price target of $8.43.
The stock has a 50 day moving average price of $9.10 and a 200 day moving average price of $6.59. The firm’s market cap is $419.32 million.
GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.01. During the same period in the previous year, the business posted ($0.24) earnings per share. The business had revenue of $11.06 million for the quarter, compared to analyst estimates of $10.67 million. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts expect that GenMark Diagnostics Inc. will post ($1.23) EPS for the current fiscal year.
Other large investors recently bought and sold shares of the company. I.G. Investment Management LTD. increased its stake in GenMark Diagnostics by 0.7% in the fourth quarter. I.G. Investment Management LTD. now owns 134,589 shares of the company’s stock worth $1,044,000 after buying an additional 978 shares during the period. Jennison Associates LLC increased its stake in GenMark Diagnostics by 7.3% in the fourth quarter. Jennison Associates LLC now owns 3,144,434 shares of the company’s stock worth $24,401,000 after buying an additional 214,822 shares during the period. Finally, Morgan Stanley increased its stake in GenMark Diagnostics by 10,433.5% in the fourth quarter. Morgan Stanley now owns 1,338,286 shares of the company’s stock worth $10,385,000 after buying an additional 1,325,581 shares during the period.
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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