GenMark Diagnostics Inc. (NASDAQ:GNMK) shares dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $8.88 and last traded at $8.92, with a volume of 352,371 shares changing hands. The stock had previously closed at $9.37.

Several research firms have weighed in on GNMK. JPMorgan Chase & Co. lifted their price objective on shares of GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price objective on shares of GenMark Diagnostics in a research report on Friday, July 29th. Needham & Company LLC began coverage on shares of GenMark Diagnostics in a research report on Friday, June 17th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $10.39.

The company’s 50-day moving average is $9.60 and its 200-day moving average is $6.98. The company’s market cap is $383.50 million.

GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.30) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate 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 period last year, the company earned ($0.29) earnings per share. On average, equities analysts predict that GenMark Diagnostics Inc. will post ($1.17) earnings per share for the current year.

A hedge fund recently raised its stake in GenMark Diagnostics stock. Jennison Associates LLC raised its stake in shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) by 7.3% during the fourth quarter, according to its most recent 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 SEC filing.

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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