Cowen & Co. Upgrades GenMark Diagnostics Inc to Outperform

Brokerage firm Cowen & Co. Upgrades its rating on GenMark Diagnostics Inc(NASDAQ:GNMK). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Cowen & Co. was issued on Sep 16, 2016.

In a different note, On Jul 29, 2016, JP Morgan said it Maintains its rating on GenMark Diagnostics Inc. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Overweight’ by the firm.

GenMark Diagnostics Inc (GNMK) made into the market gainers list on Thursdays trading session with the shares advancing 8.17% or 0.89 points. Due to strong positive momentum, the stock ended at $11.78, which is also near the day’s high of $11.79. The stock began the session at $10.93 and the volume stood at 3,71,102 shares. The 52-week high of the shares is $11.31 and the 52 week low is $4.2. The company has a current market capitalization of $506 M and it has 4,29,93,890 shares in outstanding.

GenMark Diagnostics Inc(GNMK) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $12.51M. Analysts had an estimated revenue of $9.62M. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.33.

Several Insider Transactions has been reported to the SEC. On Sep 9, 2016, Hany Massarany (President and CEO) sold 1,186 shares at $8.69 per share price.Also, On Sep 9, 2016, Jennifer Anne Williams (SVP, Human Resources) sold 523 shares at $8.69 per share price.On Sep 9, 2016, Jon Faiz Kayyem (SVP, Research & Development) sold 310 shares at $8.69 per share price, according to the Form-4 filing with the securities and exchange commission.

GenMark Diagnostics Inc. (GenMark) is a molecular diagnostics company. The Company is focused on developing and commercializing its eSensor detection technology. The Company’s electrochemical technology enables detection of multiple distinct biomarkers in a single sample. The Company’s XT-8 system received 510(k) clearance from the United States Food and Drug Administration (FDA) and is designed to support a range of molecular research and diagnostic tests with a workstation and disposable test cartridges. Its XT-8 system supports up to 24 independent test cartridges each of which can be run independently resulting in a workflow for its focused customers which are primarily hospitals and reference laboratories. It has an installed base of approximately 540 XT-8 analyzers or placements with its customers.

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