GenMark Diagnostics Inc. (GNMK) Sees Large Volume Increase
GenMark Diagnostics Inc. (NASDAQ:GNMK) shares saw strong trading volume on Friday . 302,702 shares traded hands during mid-day trading, an increase of 25% from the previous session’s volume of 242,958 shares.The stock last traded at $9.44 and had previously closed at $9.49.
GNMK has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of GenMark Diagnostics in a research note on Friday, July 29th. Needham & Company LLC assumed coverage on shares of GenMark Diagnostics in a research note on Friday, June 17th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Zacks Investment Research raised shares of GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $10.39.
The stock’s 50-day moving average price is $9.53 and its 200-day moving average price is $6.89. The firm’s market capitalization is $403.27 million.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The firm earned $12.50 million during the quarter, compared to analysts’ expectations of $9.62 million. GenMark Diagnostics’s revenue for the quarter was up 63.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Equities analysts predict that GenMark Diagnostics Inc. will post ($1.17) EPS for the current fiscal year.
A hedge fund recently raised its stake in GenMark Diagnostics stock. Jennison Associates LLC boosted its stake in GenMark Diagnostics Inc. (NASDAQ:GNMK) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,144,434 shares of the company’s stock after buying an additional 214,822 shares during the period. Jennison Associates LLC owned approximately 7.41% of GenMark Diagnostics worth $24,401,000 as of its most recent filing with the SEC.
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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