Sequenom Rating Lowered to Neutral at Piper Jaffray (SQNM)
Sequenom (NASDAQ:SQNM) was downgraded by equities researchers at Piper Jaffray from an “overweight” rating to a “neutral” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.
Sequenom (NASDAQ:SQNM) traded down 1.51% on Friday, hitting $2.6001. The stock had a trading volume of 3,212,999 shares. Sequenom has a 52-week low of $1.65 and a 52-week high of $4.90. The stock has a 50-day moving average of $2.38 and a 200-day moving average of $2.88. The company’s market cap is $300.9 million.
Sequenom (NASDAQ:SQNM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.22) by $0.02. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $40.56 million. During the same quarter last year, the company posted ($0.26) earnings per share. Sequenom’s revenue was up 91.7% compared to the same quarter last year. Analysts expect that Sequenom will post $-0.87 EPS for the current fiscal year.
Separately, analysts at Maxim Group reiterated a “buy” rating on shares of Sequenom in a research note to investors on Friday, November 8th. They now have a $6.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.33.
Manufactures DNA detection and sequencing equipment. The Company’s two business units combine to utilize their MassARRAY system, SNP assay portfolio, disease gene discovery programs and DNA sample repository.
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