GenMark Diagnostics Inc. (GNMK) Receives Average Rating of “Buy” from Brokerages
Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) have received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.04.
Several equities analysts recently weighed in on GNMK shares. Cowen and Company upgraded GenMark Diagnostics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Friday, September 16th. Zacks Investment Research downgraded GenMark Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Canaccord Genuity restated a “buy” rating and issued a $13.00 price objective on shares of GenMark Diagnostics in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, July 29th.
In other news, SVP Jennifer Anne Williams sold 24,172 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $8.63, for a total value of $208,604.36. Following the completion of the sale, the senior vice president now owns 164,937 shares in the company, valued at $1,423,406.31. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.09% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Northpointe Capital LLC raised 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 period. Bank of New York Mellon Corp raised its stake in GenMark Diagnostics by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 185,657 shares of the company’s stock worth $1,614,000 after buying an additional 3,999 shares during the period. Turner Investments L.P. bought a new stake in GenMark Diagnostics during the second quarter worth about $218,000. Artemis Investment Management LLP raised its stake in shares of 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 period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of GenMark Diagnostics by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 149,145 shares of the company’s stock worth $1,298,000 after buying an additional 3,426 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.
GenMark Diagnostics (NASDAQ:GNMK) opened at 12.22 on Thursday. GenMark Diagnostics has a 12 month low of $4.20 and a 12 month high of $13.29. The stock’s 50 day moving average price is $11.97 and its 200-day moving average price is $9.67. The firm’s market capitalization is $567.06 million.
GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Thursday, November 3rd. The company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. GenMark Diagnostics had a negative return on equity of 114.35% and a negative net margin of 98.17%. The firm had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.36 million. During the same period in the prior year, the business posted ($0.27) earnings per share. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, analysts forecast that GenMark Diagnostics will post ($1.13) earnings per share for the current year.
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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