GenMark Diagnostics, Inc (GNMK) Receives Average Rating of “Buy” from Analysts

GenMark Diagnostics, Inc (NASDAQ:GNMK) has been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.60.

A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of GenMark Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity lowered their target price on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of GenMark Diagnostics in a report on Friday, January 19th. Finally, BTIG Research set a $11.00 price objective on shares of GenMark Diagnostics and gave the company a “buy” rating in a report on Tuesday, January 16th.

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Shares of GNMK opened at $5.35 on Friday. The firm has a market cap of $295.14, a P/E ratio of -4.42 and a beta of 0.60. GenMark Diagnostics has a 1-year low of $3.63 and a 1-year high of $13.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.04 and a current ratio of 3.44.

GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Tuesday, February 27th. The medical equipment provider reported ($0.26) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.26). The business had revenue of $16.02 million for the quarter, compared to the consensus estimate of $15.82 million. GenMark Diagnostics had a negative net margin of 117.77% and a negative return on equity of 91.14%. analysts predict that GenMark Diagnostics will post -0.78 earnings per share for the current year.

In other GenMark Diagnostics news, insider Hany Massarany sold 6,584 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $4.37, for a total value of $28,772.08. Following the transaction, the insider now directly owns 357,190 shares in the company, valued at $1,560,920.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott Mendel sold 6,275 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $4.17, for a total transaction of $26,166.75. Following the completion of the transaction, the chief financial officer now owns 246,161 shares in the company, valued at $1,026,491.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,164 shares of company stock worth $217,957. Corporate insiders own 7.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in GNMK. Two Sigma Investments LP boosted its position in shares of GenMark Diagnostics by 2,266.9% in the fourth quarter. Two Sigma Investments LP now owns 435,887 shares of the medical equipment provider’s stock valued at $1,818,000 after acquiring an additional 417,471 shares during the period. Alyeska Investment Group L.P. boosted its position in shares of GenMark Diagnostics by 52.7% in the third quarter. Alyeska Investment Group L.P. now owns 1,013,881 shares of the medical equipment provider’s stock valued at $9,764,000 after acquiring an additional 349,819 shares during the period. JPMorgan Chase & Co. boosted its position in shares of GenMark Diagnostics by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 4,396,940 shares of the medical equipment provider’s stock valued at $41,288,000 after acquiring an additional 299,173 shares during the period. Penn Capital Management Co. Inc. boosted its position in shares of GenMark Diagnostics by 56.4% in the fourth quarter. Penn Capital Management Co. Inc. now owns 543,715 shares of the medical equipment provider’s stock valued at $2,267,000 after acquiring an additional 196,150 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in shares of GenMark Diagnostics in the fourth quarter valued at about $618,000.

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GenMark Diagnostics Company Profile

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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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