Cowen and Company upgraded shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) from a market perform rating to an outperform rating in a report published on Friday. The firm currently has $17.00 price target on the stock.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

A number of other research analysts have also recently weighed in on GNMK. Needham & Company LLC began coverage on shares of GenMark Diagnostics in a research note on Friday, June 17th. They set a buy rating and a $13.00 price objective for the company. Canaccord Genuity reissued a buy rating on shares of GenMark Diagnostics in a research note on Wednesday, June 8th. Zacks Investment Research raised shares of GenMark Diagnostics from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of GenMark Diagnostics from $10.00 to $13.00 and gave the stock an overweight rating in a research note on Friday, July 29th. Seven research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus price target of $11.89.

GenMark Diagnostics (NASDAQ:GNMK) opened at 11.04 on Friday. GenMark Diagnostics has a 1-year low of $4.20 and a 1-year high of $11.31. The firm’s market capitalization is $474.64 million. The firm’s 50-day moving average price is $9.14 and its 200-day moving average price is $7.66.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.03. GenMark Diagnostics had a negative net margin of 101.78% and a negative return on equity of 108.34%. The business earned $12.50 million during the quarter, compared to analysts’ expectations of $9.62 million. During the same period last year, the company posted ($0.29) EPS. The company’s revenue was up 63.6% on a year-over-year basis. On average, equities research analysts predict that GenMark Diagnostics will post ($1.18) EPS for the current fiscal year.

In other news, SVP Jennifer Anne Williams sold 24,172 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $208,604.36. Following the completion of the sale, the senior vice president now directly owns 164,937 shares of the company’s stock, valued at approximately $1,423,406.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Gleeson sold 7,500 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $9.00, for a total transaction of $67,500.00. Following the sale, the senior vice president now directly owns 246,934 shares of the company’s stock, valued at $2,222,406. The disclosure for this sale can be found here. Insiders own 7.09% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of GenMark Diagnostics by 4.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,007 shares of the company’s stock valued at $148,000 after buying an additional 799 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of GenMark Diagnostics by 16.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 32,862 shares of the company’s stock valued at $173,000 after buying an additional 4,734 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of GenMark Diagnostics by 3.1% in the second quarter. BlackRock Advisors LLC now owns 20,714 shares of the company’s stock valued at $180,000 after buying an additional 615 shares in the last quarter. Turner Investments L.P. bought a new stake in shares of GenMark Diagnostics during the second quarter valued at about $218,000. Finally, Donaldson Capital Management LLC boosted its stake in shares of GenMark Diagnostics by 4.7% in the first quarter. Donaldson Capital Management LLC now owns 66,425 shares of the company’s stock valued at $350,000 after buying an additional 3,010 shares in the last quarter.

GenMark Diagnostics Company Profile

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.

5 Day Chart for NASDAQ:GNMK

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