GenMark Diagnostics Inc. (GNMK) Sees Unusually-High Trading Volume
GenMark Diagnostics Inc. (NASDAQ:GNMK) saw unusually-strong trading volume on Friday . Approximately 302,702 shares changed 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.
Several equities research analysts have recently weighed in on GNMK shares. JPMorgan Chase & Co. increased their price target on 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 issued a $13.00 price objective on shares of GenMark Diagnostics in a research note on Friday, July 29th. Needham & Company LLC assumed coverage on GenMark Diagnostics in a research note on Friday, June 17th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Zacks Investment Research raised GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.39.
The stock’s 50 day moving average is $9.53 and its 200 day moving average is $6.89. The company’s market cap is $403.27 million.
GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Thursday, July 28th. The company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.62 million. The company’s revenue for the quarter was up 63.6% on a year-over-year basis. Equities analysts forecast that GenMark Diagnostics Inc. will post ($1.17) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in GenMark Diagnostics stock. I.G. Investment Management LTD. boosted its stake in shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,589 shares of the company’s stock after buying an additional 978 shares during the period. I.G. Investment Management LTD. owned about 0.32% of GenMark Diagnostics worth $1,044,000 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.