GenMark Diagnostics Inc. (GNMK) Shares Up 3.8%
GenMark Diagnostics Inc. (NASDAQ:GNMK)’s share price shot up 3.8% during mid-day trading on Wednesday . The stock traded as high as $9.30 and last traded at $9.26, with a volume of 136,097 shares trading hands. The stock had previously closed at $8.92.
Several brokerages have issued reports on GNMK. Canaccord Genuity reiterated a “buy” rating and issued a $8.00 price objective on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Needham & Company LLC reiterated a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Zacks Investment Research upgraded GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on GenMark Diagnostics from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. GenMark Diagnostics has a consensus rating of “Buy” and an average target price of $10.39.
The company’s market capitalization is $394.68 million. The company has a 50 day moving average price of $9.60 and a 200 day moving average price of $6.98.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.03. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.62 million. During the same period in the prior year, the company earned ($0.29) EPS. The company’s quarterly revenue was up 63.6% compared to the same quarter last year. Equities analysts anticipate that GenMark Diagnostics Inc. will post ($1.17) EPS for the current year.
A hedge fund recently raised its stake in GenMark Diagnostics stock. Jennison Associates LLC increased its position in GenMark Diagnostics Inc. (NASDAQ:GNMK) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting 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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