GenMark Diagnostics, Inc (NASDAQ:GNMK) shot up 8.6% on Wednesday . The stock traded as high as $4.83 and last traded at $4.78. 504,790 shares changed hands during trading, an increase of 19% from the average session volume of 423,772 shares. The stock had previously closed at $4.40.

Several brokerages have weighed in on GNMK. Canaccord Genuity reaffirmed a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, September 27th. Zacks Investment Research upgraded GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of GenMark Diagnostics in a research report on Wednesday, October 4th. BTIG Research restated a “buy” rating and set a $13.00 target price on shares of GenMark Diagnostics in a research report on Thursday, August 31st. Finally, Bank of America began coverage on GenMark Diagnostics in a research report on Monday, September 18th. They set a “buy” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. GenMark Diagnostics has an average rating of “Hold” and an average target price of $11.80.

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97.

GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $14.56 million. During the same quarter last year, the business earned ($0.27) earnings per share. GenMark Diagnostics’s revenue was up 7.4% on a year-over-year basis. equities research analysts predict that GenMark Diagnostics, Inc will post -1.17 earnings per share for the current fiscal year.

In related news, Director Michael Kagnoff purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average cost of $4.13 per share, with a total value of $82,600.00. Following the purchase, the director now owns 64,413 shares of the company’s stock, valued at approximately $266,025.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hany Massarany sold 8,252 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $4.74, for a total transaction of $39,114.48. Following the completion of the transaction, the insider now directly owns 362,957 shares in the company, valued at $1,720,416.18. The disclosure for this sale can be found here. Insiders have sold a total of 59,838 shares of company stock worth $470,502 over the last 90 days. Insiders own 7.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of GNMK. FMR LLC lifted its stake in GenMark Diagnostics by 13.6% in the 2nd quarter. FMR LLC now owns 8,020,502 shares of the medical equipment provider’s stock valued at $94,883,000 after buying an additional 962,822 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in GenMark Diagnostics by 15.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after buying an additional 559,629 shares in the last quarter. Marshall Wace North America L.P. lifted its stake in GenMark Diagnostics by 1,787.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock valued at $6,528,000 after buying an additional 515,200 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in GenMark Diagnostics by 25.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,252,831 shares of the medical equipment provider’s stock valued at $26,651,000 after buying an additional 453,329 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in GenMark Diagnostics by 14.3% in the 2nd quarter. Jennison Associates LLC now owns 3,541,747 shares of the medical equipment provider’s stock valued at $41,899,000 after buying an additional 443,005 shares in the last quarter.

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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.

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