GenMark Diagnostics, Inc. (NASDAQ:GNMK) has received an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.50.

GNMK has been the topic of a number of research reports. Canaccord Genuity reissued a “buy” rating and issued a $14.00 target price (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Monday, August 7th. BidaskClub downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. Cowen and Company reissued an “outperform” rating and issued a $17.00 target price on shares of GenMark Diagnostics in a research note on Wednesday, August 2nd. Finally, BTIG Research reissued a “buy” rating and issued a $13.00 target price on shares of GenMark Diagnostics in a research note on Thursday, August 31st.

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GenMark Diagnostics (GNMK) opened at 8.89 on Friday. GenMark Diagnostics has a 1-year low of $8.70 and a 1-year high of $13.67. The firm has a 50 day moving average of $9.46 and a 200 day moving average of $11.46. The firm’s market cap is $485.99 million.

GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative net margin of 111.96% and a negative return on equity of 109.89%. The business had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $12.44 million. During the same period in the prior year, the business posted ($0.30) EPS. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that GenMark Diagnostics will post ($1.07) EPS for the current year.

In related news, CFO Scott Mendel sold 2,898 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $9.45, for a total transaction of $27,386.10. Following the completion of the sale, the chief financial officer now directly owns 138,096 shares of the company’s stock, valued at approximately $1,305,007.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jennifer Anne Williams sold 38,681 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $9.08, for a total transaction of $351,223.48. Following the sale, the senior vice president now directly owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,736 shares of company stock valued at $544,341. Company insiders own 7.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in GenMark Diagnostics by 15.8% during the 2nd 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. Federated Investors Inc. PA grew its holdings in GenMark Diagnostics by 62,991.5% during the 2nd 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. Marshall Wace North America L.P. grew its holdings in GenMark Diagnostics by 1,787.6% during the 2nd 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. Ameriprise Financial Inc. acquired a new stake in GenMark Diagnostics during the 1st quarter valued at $435,000. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in GenMark Diagnostics during the 1st quarter valued at $375,000.

About GenMark Diagnostics

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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