GenMark Diagnostics (NASDAQ:GNMK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California. “

Several other research analysts have also issued reports on GNMK. Canaccord Genuity reiterated a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of GenMark Diagnostics in a report on Wednesday, October 4th. BTIG Research restated a “buy” rating and issued a $13.00 price target on shares of GenMark Diagnostics in a report on Thursday, August 31st. Finally, Bank of America started coverage on GenMark Diagnostics in a report on Monday, September 18th. They issued a “buy” rating and a $13.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. GenMark Diagnostics has an average rating of “Hold” and a consensus target price of $11.80.

Shares of GenMark Diagnostics (NASDAQ:GNMK) traded up $0.07 during mid-day trading on Monday, hitting $4.46. The company’s stock had a trading volume of 309,408 shares, compared to its average volume of 423,829. The company has a quick ratio of 2.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.12. GenMark Diagnostics has a 52 week low of $3.63 and a 52 week high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.27) earnings per share. equities research analysts forecast that GenMark Diagnostics will post -1.17 EPS for the current year.

In other news, SVP Jennifer Anne Williams sold 38,681 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.08, for a total value of $351,223.48. Following the transaction, the senior vice president now owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Stier sold 2,750 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $9.60, for a total value of $26,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,838 shares of company stock worth $470,502. Company insiders own 7.50% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in GenMark Diagnostics by 15.8% during the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock worth $48,476,000 after purchasing an additional 559,629 shares during the last quarter. Vanguard Group Inc. lifted its stake in GenMark Diagnostics by 10.9% during the second quarter. Vanguard Group Inc. now owns 2,169,476 shares of the medical equipment provider’s stock worth $25,664,000 after purchasing an additional 212,795 shares during the last quarter. Federated Investors Inc. PA lifted its stake in GenMark Diagnostics by 62,991.5% during the second quarter. Federated Investors Inc. PA now owns 200,000 shares of the medical equipment provider’s stock worth $2,366,000 after purchasing an additional 199,683 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in GenMark Diagnostics by 1,787.6% during the second quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock worth $6,528,000 after purchasing an additional 515,200 shares during the last quarter. Finally, State Street Corp lifted its stake in GenMark Diagnostics by 9.4% during the second quarter. State Street Corp now owns 888,727 shares of the medical equipment provider’s stock worth $10,515,000 after purchasing an additional 76,010 shares during the last quarter.

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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.

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