Analysts Set GenMark Diagnostics, Inc (GNMK) Price Target at $10.60

Shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) have been given a consensus recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $10.60.

GNMK has been the subject of several research analyst reports. BidaskClub lowered shares of GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. BTIG Research set a $11.00 price target on shares of GenMark Diagnostics and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of GenMark Diagnostics in a report on Friday, January 19th. Finally, Canaccord Genuity cut their price objective on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 28th.

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NASDAQ:GNMK opened at $5.45 on Friday. The company has a current ratio of 3.44, a quick ratio of 3.04 and a debt-to-equity ratio of 0.29. GenMark Diagnostics has a 52 week low of $3.63 and a 52 week high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported ($0.26) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.26). GenMark Diagnostics had a negative net margin of 117.77% and a negative return on equity of 91.14%. The company had revenue of $16.02 million during the quarter, compared to analyst estimates of $15.82 million. equities analysts anticipate that GenMark Diagnostics will post -0.78 EPS for the current year.

In other GenMark Diagnostics news, CFO Scott Mendel sold 6,275 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $4.17, for a total value of $26,166.75. Following the completion of the transaction, the chief financial officer now directly owns 246,161 shares of the company’s stock, valued at approximately $1,026,491.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hany Massarany sold 6,584 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $4.37, for a total transaction of $28,772.08. Following the completion of the transaction, the insider now directly owns 357,190 shares of the company’s stock, valued at $1,560,920.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,164 shares of company stock valued at $217,957. 7.50% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Wrapmanager Inc. raised its position in shares of GenMark Diagnostics by 121.3% during the 4th quarter. Wrapmanager Inc. now owns 39,547 shares of the medical equipment provider’s stock valued at $165,000 after buying an additional 21,679 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of GenMark Diagnostics by 111.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 49,400 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 26,000 shares in the last quarter. OLD National Bancorp IN raised its position in shares of GenMark Diagnostics by 120.6% during the 4th quarter. OLD National Bancorp IN now owns 49,765 shares of the medical equipment provider’s stock valued at $208,000 after buying an additional 27,208 shares in the last quarter. Fairpointe Capital LLC purchased a new stake in shares of GenMark Diagnostics during the 4th quarter valued at $220,000. Finally, FDx Advisors Inc. raised its position in shares of GenMark Diagnostics by 124.1% during the 4th quarter. FDx Advisors Inc. now owns 53,689 shares of the medical equipment provider’s stock valued at $224,000 after buying an additional 29,729 shares in 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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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