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. “
Other equities analysts have also issued research reports about the company. Canaccord Genuity reissued a buy rating on shares of GenMark Diagnostics in a report on Wednesday, June 8th. Needham & Company LLC initiated coverage on GenMark Diagnostics in a report on Friday, June 17th. They issued a buy rating and a $13.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on GenMark Diagnostics from $10.00 to $13.00 and gave the company an overweight rating in a report on Friday, July 29th. Finally, Cowen and Company raised GenMark Diagnostics from a market perform rating to an outperform rating and set a $17.00 price objective on the stock in a report on Friday, September 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. GenMark Diagnostics has an average rating of Buy and a consensus target price of $11.89.
GenMark Diagnostics (NASDAQ:GNMK) opened at 11.69 on Wednesday. The stock has a 50 day moving average price of $9.47 and a 200 day moving average price of $7.91. The firm’s market cap is $502.59 million. GenMark Diagnostics has a one year low of $4.20 and a one year high of $12.17.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.03. GenMark Diagnostics had a negative return on equity of 108.34% and a negative net margin of 101.78%. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.62 million. During the same quarter last year, the company posted ($0.29) earnings per share. The business’s revenue was up 63.6% on a year-over-year basis. Equities research analysts expect that GenMark Diagnostics will post ($1.18) EPS for the current year.
In other 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 approximately $2,222,406. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jennifer Anne Williams sold 24,172 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $208,604.36. Following the sale, the senior vice president now owns 164,937 shares of the company’s stock, valued at $1,423,406.31. The disclosure for this sale can be found here. Insiders own 7.09% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Northpointe Capital LLC increased its stake in GenMark Diagnostics by 50.9% in the second quarter. Northpointe Capital LLC now owns 1,512,734 shares of the company’s stock worth $13,161,000 after buying an additional 510,472 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in GenMark Diagnostics by 15.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,575,036 shares of the company’s stock worth $13,570,000 after buying an additional 350,000 shares during the last quarter. Bogle Investment Management L P DE increased its stake in GenMark Diagnostics by 836.6% in the first quarter. Bogle Investment Management L P DE now owns 136,821 shares of the company’s stock worth $721,000 after buying an additional 122,213 shares during the last quarter. Artemis Investment Management LLP increased its stake in GenMark Diagnostics by 100.0% in the second quarter. Artemis Investment Management LLP now owns 216,928 shares of the company’s stock worth $1,885,000 after buying an additional 108,464 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in GenMark Diagnostics by 6.8% in the second quarter. Vanguard Group Inc. now owns 1,641,312 shares of the company’s stock worth $14,279,000 after buying an additional 104,864 shares during the last quarter.
About GenMark Diagnostics
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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