Sequenom Receives New Coverage from Analysts at Jefferies Group (SQNM)
Research analysts at Jefferies Group started coverage on shares of Sequenom (NASDAQ:SQNM) in a report released on Thursday. The firm set a “buy” rating and a $5.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 25.94% from the stock’s previous close.
The analysts wrote, “We are resuming our rating on SQNM with a Buy and $5 PT (Restricted 9/23/13). Our revised revenue and EPS forecasts reflect the effects of SQNM’s recent divestiture of its Biosciences unit, as well as expectations for a profitability & cash flow inflection in 4Q14.”
Sequenom (NASDAQ:SQNM) traded up 3.15% during mid-day trading on Thursday, hitting $4.095. The stock had a trading volume of 581,489 shares. Sequenom has a one year low of $1.65 and a one year high of $4.90. The stock has a 50-day moving average of $3.22 and a 200-day moving average of $2.64. The company’s market cap is $476.6 million. Sequenom also was the recipient of a large decline in short interest in June. As of June 13th, there was short interest totalling 22,496,004 shares, a decline of 5.2% from the May 30th total of 23,741,438 shares. Based on an average daily trading volume, of 1,307,209 shares, the short-interest ratio is currently 17.2 days. Approximately 19.5% of the shares of the company are sold short.
Sequenom (NASDAQ:SQNM) last announced its earnings results on Thursday, May 1st. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.14) by $0.01. The company had revenue of $46.30 million for the quarter, compared to the consensus estimate of $46.06 million. During the same quarter in the prior year, the company posted ($0.26) earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. On average, analysts predict that Sequenom will post $-0.35 earnings per share for the current fiscal year.
SQNM has been the subject of a number of other recent research reports. Analysts at William Blair upgraded shares of Sequenom from a “market perform” rating to an “outperform” rating in a research note on Monday, June 23rd. Separately, analysts at Wedbush raised their price target on shares of Sequenom to $5.00 in a research note on Tuesday, June 17th. Finally, analysts at ISI Group reiterated a “buy” rating on shares of Sequenom in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $6.00.
Sequenom, Inc (NASDAQ:SQNM) is a molecular diagnostic testing and genetics analysis company committed to providing molecular diagnostic testing services, and research use only products, services, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural, livestock, and other areas of research.
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