Sequenom Given Buy Rating at Jefferies Group (SQNM)
“SQNM’s disclosure of >61,000 MaterniT21 tests accessioned in 2012 is slightly higher than that included in its January 2013 pre-release (>60,000), and implies a 4Q12 experience of >25,000 (+41% sequentially). We estimate its weekly volume run-rate grew 45% in 4Q12, which clearly demonstrates an accelerating trend despite the specter of a higher base of comparison and the perception of greater competitive activity. While SQNM did not quantitatively disclose a 1Q13 to-date volume run-rate, it did qualitatively point to a trajectory similar to that experienced in 4Q12, which would suggest a 1Q13 experience of ~34,000 tests.,” the firm’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush reiterated a neutral rating on shares of Sequenom in a research note to investors on Tuesday, March 5th. They now have a $5.00 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of Sequenom from a neutral rating to an overweight rating in a research note to investors on Friday, March 1st. They now have a $6.50 price target on the stock, up previously from $5.00. Finally, analysts at Maxim Group reiterated a buy rating on shares of Sequenom in a research note to investors on Monday, January 14th. They now have a $7.00 price target on the stock.
Seven equities research analysts have rated the stock with a buy rating, one has given a hold rating, and one has assigned a sell rating to the company’s stock. The stock currently has a consensus rating of overweight and an average target price of $7.29.
Sequenom traded down 1.55% on Friday, hitting $4.46. Sequenom has a 52-week low of $2.65 and a 52-week high of $5.83. The stock’s 50-day moving average is currently $4.34. The company’s market cap is $511.9 million.
Sequenom, Inc. (Sequenom) is a diagnostic testing and genetics analysis company. The Company is focused on providing products, services, diagnostic testing, applications and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural, livestock and other areas of research.
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