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

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 analysts also recently commented on GNMK. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective (down from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. Bank of America started coverage on GenMark Diagnostics in a research note on Monday, September 18th. They set a “buy” rating and a $13.00 price objective for the company. Canaccord Genuity reaffirmed a “buy” rating on shares of GenMark Diagnostics in a research note on Wednesday, September 27th. Raymond James Financial reaffirmed a “market perform” rating on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Finally, Cowen reissued a “buy” rating and set a $10.00 target price on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.80.

GenMark Diagnostics (NASDAQ:GNMK) traded up $0.07 on Wednesday, reaching $4.72. The company’s stock had a trading volume of 555,300 shares, compared to its average volume of 584,800. The company has a current ratio of 2.97, a quick ratio of 2.77 and a debt-to-equity ratio of 0.12. The stock has a market cap of $228.49, a P/E ratio of -3.87 and a beta of 0.65. GenMark Diagnostics has a 12-month low of $3.63 and a 12-month high of $13.67.

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

In other news, insider Hany Massarany sold 8,252 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $4.74, for a total transaction of $39,114.48. Following the completion of the transaction, the insider now directly owns 362,957 shares of the company’s stock, valued at approximately $1,720,416.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael Kagnoff bought 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $4.13 per share, with a total value of $82,600.00. Following the completion of the purchase, the director now owns 64,413 shares in the company, valued at approximately $266,025.69. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 18,407 shares of company stock valued at $92,878. Company insiders own 7.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BlueCrest Capital Management Ltd purchased a new position in GenMark Diagnostics in the 2nd quarter valued at approximately $126,000. Susquehanna International Group LLP purchased a new position in GenMark Diagnostics in the 2nd quarter valued at approximately $137,000. Legal & General Group Plc increased its stake in GenMark Diagnostics by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 240 shares in the last quarter. Wrapmanager Inc. purchased a new position in GenMark Diagnostics in the 3rd quarter valued at approximately $172,000. Finally, OLD National Bancorp IN purchased a new position in GenMark Diagnostics in the 3rd quarter valued at approximately $217,000.

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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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