GenMark Diagnostics, Inc (NASDAQ:GNMK) rose 14.9% during mid-day trading on Tuesday . The company traded as high as $5.84 and last traded at $5.78. Approximately 780,049 shares were traded during trading, an increase of 33% from the average daily volume of 586,513 shares. The stock had previously closed at $5.03.

A number of research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on GenMark Diagnostics from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price objective on shares of GenMark Diagnostics in a research note on Monday, October 30th. BTIG Research set a $11.00 price objective on GenMark Diagnostics and gave the company a “buy” rating in a research note on Monday, November 20th. Cowen reiterated a “buy” rating and set a $10.00 price objective on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.80.

The firm has a market capitalization of $301.92, a P/E ratio of -4.70 and a beta of 0.65. The company has a current ratio of 2.97, a quick ratio of 2.77 and a debt-to-equity ratio of 0.12.

GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The company had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. equities analysts predict that GenMark Diagnostics, Inc will post -1.18 earnings per share for the current fiscal year.

In other GenMark Diagnostics news, Director Michael Kagnoff purchased 20,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $4.13 per share, with a total value of $82,600.00. Following the acquisition, the director now owns 64,413 shares in the company, valued at $266,025.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hany Massarany sold 8,252 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $4.74, for a total value 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. Over the last quarter, insiders have sold 18,407 shares of company stock valued at $92,878. 7.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in GenMark Diagnostics by 7.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,396,940 shares of the medical equipment provider’s stock worth $41,288,000 after purchasing an additional 299,173 shares in the last quarter. Vanguard Group Inc. lifted its holdings in GenMark Diagnostics by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,169,476 shares of the medical equipment provider’s stock worth $25,664,000 after purchasing an additional 212,795 shares in the last quarter. State Street Corp lifted its holdings in GenMark Diagnostics by 9.4% in the 2nd quarter. State Street Corp now owns 888,727 shares of the medical equipment provider’s stock worth $10,515,000 after purchasing an additional 76,010 shares in the last quarter. Northpointe Capital LLC lifted its holdings in GenMark Diagnostics by 24.4% in the 3rd quarter. Northpointe Capital LLC now owns 1,552,740 shares of the medical equipment provider’s stock worth $14,953,000 after purchasing an additional 304,232 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in GenMark Diagnostics by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 223,163 shares of the medical equipment provider’s stock worth $2,641,000 after purchasing an additional 18,235 shares in the last quarter.

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About GenMark Diagnostics

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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