Gen-Probe (GPRO) Upgraded to Outperform at Robert W. Baird

Gen-Probe (GPRO) has been upgraded today by the securities research analysts at investment firm Robert W. Baird which raised Gen-Probe from a “neutral” rating to “outperform.”  Baird, however, cut their performance outlook for GPRO  and adjusted its price target from $82 to $75 dollars.  Baird noted that their decreased price target is partly based on potential suitors of Gen-Probe (LIFE, Novartis and TMO) having walked away into the sunset.  Still, Baird upgrades GPRO based on what they find is a good risk, reward opportunity in the company.

GPRO continues to slide down the wall of the market after having broken beneath support of the $64.65 price level on July 14th, 2011, and there has been no cure in sight yet which will slow bearish momentum.  There has been regular speculation that Gen-Probe will be picked up by another company, only for those assumptions to be proven false.  Today is another dose of that reality.

Gen-Probe is slated to release their next earnings report on July 28th, 2011, and the current consensus EPS estimate is expected to be 49 cents.  Gen-Probe’s last earnings report was released on April 28th, 2011, and announced EPS of 54 cents with revenue totaling $143 million dollars which was up 5.6% year to year.  GPRO is currently trading below its 50 & 200-day moving averages and 2011 is an up year for the company.

Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective molecular diagnostic products and services that are used primarily to diagnose human diseases, screen donated human blood, and ensure transplant compatibility.  The company has market capitalization of $2,992,060,220 and 47,942,000 shares outstanding.  GPRO has a 52-week high of $86.96 with the low being an even $42 dollars.

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