The GenMark Diagnostics Inc. (GNMK) Given Average Recommendation of “Buy” by Analysts

The GenMark Diagnostics Inc. (GNMK) Given Average Recommendation of “Buy” by Analysts

GenMark Diagnostics Inc. (NASDAQ:GNMK) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.04.

A number of research firms recently weighed in on GNMK. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, August 2nd. Needham & Company LLC began coverage on shares of GenMark Diagnostics in a report on Friday, June 17th. They issued a “buy” rating and a $13.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of GenMark Diagnostics in a report on Friday, July 29th. Finally, Cowen and Company upgraded shares of GenMark Diagnostics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a report on Friday, September 16th.

In other news, SVP Jennifer Anne Williams sold 24,172 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $208,604.36. Following the completion of the transaction, the senior vice president now directly owns 164,937 shares of the company’s stock, valued at approximately $1,423,406.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Gleeson sold 7,500 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $9.00, for a total transaction of $67,500.00. Following the transaction, the senior vice president now directly owns 246,934 shares of the company’s stock, valued at $2,222,406. The disclosure for this sale can be found here. 7.09% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northpointe Capital LLC increased its position in GenMark Diagnostics by 50.9% in the second quarter. Northpointe Capital LLC now owns 1,512,734 shares of the company’s stock worth $13,161,000 after buying an additional 510,472 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in GenMark Diagnostics by 15.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,575,036 shares of the company’s stock worth $13,570,000 after buying an additional 350,000 shares in the last quarter. Bogle Investment Management L P DE increased its position in GenMark Diagnostics by 836.6% in the first quarter. Bogle Investment Management L P DE now owns 136,821 shares of the company’s stock worth $721,000 after buying an additional 122,213 shares in the last quarter. Artemis Investment Management LLP increased its position in GenMark Diagnostics by 100.0% in the second quarter. Artemis Investment Management LLP now owns 216,928 shares of the company’s stock worth $1,885,000 after buying an additional 108,464 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in GenMark Diagnostics by 6.8% in the second quarter. Vanguard Group Inc. now owns 1,641,312 shares of the company’s stock worth $14,279,000 after buying an additional 104,864 shares in the last quarter.

GenMark Diagnostics (NASDAQ:GNMK) traded down 4.67% during trading on Thursday, reaching $12.05. The company had a trading volume of 89,410 shares. The company’s market capitalization is $518.07 million. The company has a 50-day moving average price of $10.38 and a 200 day moving average price of $8.41. GenMark Diagnostics has a one year low of $4.20 and a one year high of $13.29.

GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. GenMark Diagnostics had a negative net margin of 101.78% and a negative return on equity of 108.34%. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.62 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The business’s quarterly revenue was up 63.6% compared to the same quarter last year. Analysts expect that GenMark Diagnostics will post ($1.18) earnings per share for the current year.

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