GenMark Diagnostics, Inc. (NASDAQ:GNMK) has been assigned a consensus rating of “Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.40.

A number of equities research analysts have weighed in on the stock. Bank of America Corporation assumed coverage on shares of GenMark Diagnostics in a research report on Monday. They set a “buy” rating and a $13.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target (down from $17.00) on shares of GenMark Diagnostics in a research report on Wednesday, September 13th. BTIG Research reiterated a “buy” rating and set a $13.00 price target on shares of GenMark Diagnostics in a research report on Thursday, August 31st. BidaskClub cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target (down from $17.00) on shares of GenMark Diagnostics in a research report on Monday, August 7th.

In related news, SVP Jennifer Anne Williams sold 38,681 shares of GenMark Diagnostics stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $9.08, for a total value of $351,223.48. Following the completion of the transaction, the senior vice president now owns 155,889 shares in the company, valued at $1,415,472.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hany Massarany sold 8,311 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $9.45, for a total transaction of $78,538.95. Following the completion of the transaction, the insider now owns 372,797 shares of the company’s stock, valued at approximately $3,522,931.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,986 shares of company stock valued at $517,941. Company insiders own 7.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. grew its holdings in shares of GenMark Diagnostics by 1,787.6% in the second quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock valued at $6,528,000 after purchasing an additional 515,200 shares in the last quarter. Bellevue Group AG acquired a new position in shares of GenMark Diagnostics in the first quarter valued at approximately $4,008,000. Federated Investors Inc. PA grew its holdings in shares of GenMark Diagnostics by 62,991.5% in the second quarter. Federated Investors Inc. PA now owns 200,000 shares of the medical equipment provider’s stock valued at $2,366,000 after purchasing an additional 199,683 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GenMark Diagnostics by 15.8% in the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after purchasing an additional 559,629 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of GenMark Diagnostics in the first quarter valued at approximately $435,000.

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Shares of GenMark Diagnostics (NASDAQ:GNMK) opened at 9.40 on Wednesday. The firm has a 50-day moving average of $9.81 and a 200 day moving average of $11.85. The stock’s market capitalization is $513.87 million. GenMark Diagnostics has a 52-week low of $8.88 and a 52-week high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The firm had revenue of $12.36 million for the quarter, compared to analyst estimates of $12.44 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. GenMark Diagnostics’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts forecast that GenMark Diagnostics will post ($1.06) EPS for the current fiscal year.

GenMark Diagnostics Company Profile

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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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