GenMark Diagnostics (NASDAQ:GNMK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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 research analysts also recently weighed in on the stock. BidaskClub downgraded shares of GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a report on Tuesday. BTIG Research set a $11.00 target price on shares of GenMark Diagnostics and gave the company a “buy” rating in a report on Monday, November 20th. Cowen reiterated a “buy” rating and issued a $10.00 target price on shares of GenMark Diagnostics in a report on Friday, November 3rd. Raymond James Financial reiterated a “market perform” rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. Finally, Needham & Company LLC lowered their target price on shares of GenMark Diagnostics from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. GenMark Diagnostics presently has an average rating of “Hold” and a consensus target price of $11.80.

GenMark Diagnostics (GNMK) traded down $0.04 on Wednesday, reaching $4.68. 353,700 shares of the company’s stock traded hands, compared to its average volume of 507,767. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97. GenMark Diagnostics has a 1 year low of $3.63 and a 1 year high of $13.67. The firm has a market capitalization of $258.63, a P/E ratio of -3.84 and a beta of 0.65.

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

In related news, Director Michael Kagnoff purchased 20,000 shares of GenMark Diagnostics stock in a transaction that occurred on 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 transaction, the director now owns 64,413 shares in the company, valued at $266,025.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hany Massarany sold 8,252 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $4.74, for a total transaction of $39,114.48. Following the transaction, the insider now owns 362,957 shares of the company’s stock, valued at approximately $1,720,416.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,407 shares of company stock valued at $92,878. 7.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. grew its position in GenMark Diagnostics by 52.7% during the third quarter. Alyeska Investment Group L.P. now owns 1,013,881 shares of the medical equipment provider’s stock valued at $9,764,000 after buying an additional 349,819 shares during the period. JPMorgan Chase & Co. grew its position in GenMark Diagnostics by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 4,396,940 shares of the medical equipment provider’s stock valued at $41,288,000 after buying an additional 299,173 shares during the period. TD Asset Management Inc. grew its position in GenMark Diagnostics by 13.8% during the third quarter. TD Asset Management Inc. now owns 130,280 shares of the medical equipment provider’s stock valued at $1,255,000 after buying an additional 15,812 shares during the period. Granite Investment Partners LLC bought a new position in GenMark Diagnostics during the third quarter valued at about $819,000. Finally, Russell Investments Group Ltd. bought a new position in GenMark Diagnostics during the third quarter valued at about $707,000.

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About GenMark Diagnostics

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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