GenMark Diagnostics (NASDAQ:GNMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, January 3rd.

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 brokerages also recently weighed in on GNMK. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target (down previously from $17.00) on shares of GenMark Diagnostics in a report on Wednesday, September 13th. BTIG Research set a $11.00 target price on shares of GenMark Diagnostics and gave the stock a “buy” rating in a report on Monday, November 20th. Cowen reissued a “buy” rating and issued a $10.00 target price on shares of GenMark Diagnostics in a report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. Finally, BidaskClub downgraded shares of GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. GenMark Diagnostics has a consensus rating of “Hold” and an average price target of $11.80.

Shares of GenMark Diagnostics (GNMK) traded down $0.10 during mid-day trading on Wednesday, hitting $5.41. 69,169 shares of the stock were exchanged, compared to its average volume of 606,696. GenMark Diagnostics has a 52-week low of $3.63 and a 52-week high of $13.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.97 and a quick ratio of 2.77.

GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. During the same quarter last year, the firm posted ($0.27) earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. equities research analysts anticipate that GenMark Diagnostics will post -1.18 EPS for the current fiscal year.

In other news, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $4.74, for a total value of $39,114.48. Following the transaction, the insider now directly owns 362,957 shares in the company, valued at $1,720,416.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Kagnoff purchased 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was bought at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the completion of the acquisition, the director now owns 64,413 shares of the company’s stock, valued at approximately $266,025.69. The disclosure for this purchase can be found here. Insiders have sold 22,407 shares of company stock worth $113,078 in the last quarter. Company insiders own 7.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in shares of GenMark Diagnostics by 2.1% during the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 240 shares during the last quarter. Rhumbline Advisers lifted its position in shares of GenMark Diagnostics by 0.8% during the second quarter. Rhumbline Advisers now owns 48,445 shares of the medical equipment provider’s stock valued at $573,000 after buying an additional 408 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of GenMark Diagnostics by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 168,888 shares of the medical equipment provider’s stock valued at $1,998,000 after buying an additional 1,268 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of GenMark Diagnostics by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 36,023 shares of the medical equipment provider’s stock valued at $426,000 after buying an additional 1,410 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of GenMark Diagnostics by 17.5% during the second quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock valued at $233,000 after buying an additional 2,943 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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