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Wells Fargo & Co. initiated coverage on shares of Quidel Corp. (NASDAQ:QDEL) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Quidel Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 25th. They now have a $21.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of Quidel Corp. from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Finally, analysts at Canaccord Genuity cut their price target on shares of Quidel Corp. from $35.00 to $28.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.33.

Quidel Corp. (NASDAQ:QDEL) traded up 1.13% on Wednesday, hitting $21.44. 134,720 shares of the company’s stock traded hands. Quidel Corp. has a 52 week low of $19.21 and a 52 week high of $32.24. The stock’s 50-day moving average is $22.65 and its 200-day moving average is $25.98. The company’s market cap is $733.7 million.

Quidel Corp. (NASDAQ:QDEL) last announced its earnings results on Wednesday, April 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.22. The company had revenue of $46.70 million for the quarter, compared to the consensus estimate of $63.26 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 24.7% on a year-over-year basis. On average, analysts predict that Quidel Corp. will post $-0.12 earnings per share for the current fiscal year.

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions.

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