Sequenom Inc. (NASDAQ:SQNM) Receives Average Recommendation of “Hold” from Brokerages
Sequenom Inc. (NASDAQ:SQNM) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $1.34.
SQNM has been the topic of a number of research reports. Zacks Investment Research raised shares of Sequenom from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research note on Friday, July 22nd. Jefferies Group reiterated a “hold” rating and issued a $0.75 price objective (down previously from $1.50) on shares of Sequenom in a report on Wednesday, July 20th. Finally, William Blair reiterated a “market perform” rating on shares of Sequenom in a report on Wednesday, June 29th.
Shares of Sequenom (NASDAQ:SQNM) remained flat at $2.39 on Wednesday. Sequenom has a 12 month low of $0.82 and a 12 month high of $2.53. The firm has a 50 day moving average of $2.16 and a 200 day moving average of $1.47.
Sequenom (NASDAQ:SQNM) last issued its quarterly earnings results on Friday, August 5th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. Equities research analysts forecast that Sequenom will post ($0.30) EPS for the current fiscal year.
In other news, major shareholder Corp Of America Hol Laboratory purchased 36,649,440 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average price of $2.40 per share, for a total transaction of $87,958,656.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of Sequenom during the first quarter worth about $122,000. Mariner Wealth Advisors LLC boosted its position in Sequenom by 1.7% in the first quarter. Mariner Wealth Advisors LLC now owns 92,249 shares of the company’s stock worth $130,000 after buying an additional 1,500 shares during the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Sequenom during the first quarter worth $142,000. Merriman Wealth Management LLC bought a new position in Sequenom during the second quarter worth $111,000. Finally, Perkins Capital Management Inc. boosted its position in Sequenom by 9.2% in the second quarter. Perkins Capital Management Inc. now owns 134,150 shares of the company’s stock worth $123,000 after buying an additional 11,250 shares during the last quarter. Institutional investors and hedge funds own 46.03% of the company’s stock.
Sequenom Company Profile
Sequenom, Inc is a life sciences company. The Company serves patients and physicians by providing early patient management information. The Company operates through Sequenom Laboratories segment. It conducts its business as a molecular diagnostics clinical laboratory located in San Diego, California and Raleigh-Durham, North Carolina.
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