According to Zacks, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California. “
Other equities analysts also recently issued reports about the company. BidaskClub downgraded GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, May 15th. Needham & Company LLC reaffirmed a buy rating and issued a $12.00 price objective on shares of GenMark Diagnostics in a research note on Friday, February 22nd. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $10.00 price objective on shares of GenMark Diagnostics in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $9.67.
GNMK opened at $6.90 on Thursday. The company has a quick ratio of 3.40, a current ratio of 3.93 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $398.63 million, a PE ratio of -7.58 and a beta of 1.48. GenMark Diagnostics has a 12 month low of $3.58 and a 12 month high of $8.81.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $21.53 million during the quarter, compared to analyst estimates of $21.08 million. GenMark Diagnostics had a negative net margin of 71.40% and a negative return on equity of 137.04%. As a group, research analysts forecast that GenMark Diagnostics will post -0.81 EPS for the current fiscal year.
In related news, insider Hany Massarany sold 10,369 shares of GenMark Diagnostics stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $6.60, for a total value of $68,435.40. Following the transaction, the insider now owns 824,951 shares in the company, valued at $5,444,676.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael Gleeson sold 10,000 shares of GenMark Diagnostics stock in a transaction on Monday, May 6th. The shares were sold at an average price of $8.00, for a total value of $80,000.00. Following the completion of the transaction, the senior vice president now owns 363,101 shares in the company, valued at approximately $2,904,808. The disclosure for this sale can be found here. Insiders have sold 55,847 shares of company stock valued at $395,743 in the last three months. 5.24% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of GenMark Diagnostics by 123.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,466 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 2,466 shares during the last quarter. Ameritas Investment Corp acquired a new position in shares of GenMark Diagnostics during the first quarter worth about $43,000. BNP Paribas Arbitrage SA raised its stake in GenMark Diagnostics by 56,694.7% during the first quarter. BNP Paribas Arbitrage SA now owns 10,791 shares of the medical equipment provider’s stock valued at $77,000 after buying an additional 10,772 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of GenMark Diagnostics by 48.6% during the fourth quarter. Legal & General Group Plc now owns 11,308 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in GenMark Diagnostics in the 4th quarter worth approximately $84,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.
GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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