GenMark Diagnostics Inc. (GNMK) Stock Price Down 1.3%
GenMark Diagnostics Inc. (NASDAQ:GNMK)’s share price fell 1.3% during mid-day trading on Monday . The stock traded as low as $8.60 and last traded at $8.64, with a volume of 287,635 shares trading hands. The stock had previously closed at $8.75.
Several brokerages have issued reports on GNMK. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, August 2nd. Canaccord Genuity restated a “buy” rating and issued a $13.00 price target on shares of GenMark Diagnostics in a research report on Friday, July 29th. JPMorgan Chase & Co. increased 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. Finally, Needham & Company LLC initiated 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 for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. GenMark Diagnostics has an average rating of “Buy” and a consensus price target of $10.39.
The company’s market capitalization is $371.46 million. The company has a 50 day moving average price of $9.49 and a 200-day moving average price of $7.22.
GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Thursday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.62 million. The company’s revenue for the quarter was up 63.6% compared to the same quarter last year. On average, equities analysts predict that GenMark Diagnostics Inc. will post ($1.17) EPS for the current fiscal year.
In other GenMark Diagnostics news, SVP Michael Gleeson sold 7,500 shares of GenMark Diagnostics stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 246,934 shares in the company, valued at $2,222,406. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
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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