Zacks Investment Research upgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from a sell rating to a hold rating in a research note issued to investors on Monday.
According to Zacks, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California. “
A number of other brokerages have also recently commented on GNMK. Needham & Company LLC restated a buy rating and set a $15.00 price objective (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. BidaskClub cut GenMark Diagnostics from a hold rating to a sell rating in a research note on Monday, August 14th. BTIG Research set a $11.00 price objective on GenMark Diagnostics and gave the stock a buy rating in a research note on Monday, November 20th. Cowen restated a buy rating and set a $10.00 price objective on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Finally, Canaccord Genuity reaffirmed a buy rating on shares of GenMark Diagnostics in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. GenMark Diagnostics currently has a consensus rating of Hold and a consensus target price of $11.80.
GenMark Diagnostics (GNMK) opened at $4.46 on Monday. GenMark Diagnostics has a one year low of $3.63 and a one year high of $13.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The company had revenue of $11.60 million for the quarter, compared to analyst estimates of $14.56 million. GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.27) EPS. research analysts predict that GenMark Diagnostics will post -1.17 earnings per share for the current year.
In related news, SVP Jennifer Anne Williams sold 38,681 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $9.08, for a total value of $351,223.48. Following the completion of the sale, the senior vice president now directly owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Kagnoff acquired 20,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $4.13 per share, with a total value of $82,600.00. Following the completion of the acquisition, the director now owns 64,413 shares of the company’s stock, valued at $266,025.69. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 59,838 shares of company stock worth $470,502. Corporate insiders own 7.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its stake in GenMark Diagnostics by 13.1% in the first quarter. Teachers Advisors LLC now owns 111,084 shares of the medical equipment provider’s stock valued at $1,424,000 after acquiring an additional 12,864 shares during the period. Vanguard Group Inc. boosted its stake in GenMark Diagnostics by 3.1% in the first quarter. Vanguard Group Inc. now owns 1,956,681 shares of the medical equipment provider’s stock valued at $25,084,000 after acquiring an additional 58,691 shares during the period. Geode Capital Management LLC boosted its stake in GenMark Diagnostics by 8.7% in the first quarter. Geode Capital Management LLC now owns 385,994 shares of the medical equipment provider’s stock valued at $4,947,000 after acquiring an additional 30,904 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in GenMark Diagnostics by 31.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 236,054 shares of the medical equipment provider’s stock valued at $3,027,000 after acquiring an additional 56,876 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in GenMark Diagnostics by 530.0% in the first quarter. Goldman Sachs Group Inc. now owns 66,027 shares of the medical equipment provider’s stock valued at $846,000 after acquiring an additional 55,546 shares during the period.
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About GenMark Diagnostics
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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