NEW YORK, Jan. 25 (GenomeWeb News) - Shares in Cepheid were up 7.71 percent, or $.68, at $9.50 in late-afternoon trading after the company said it received an order from the US Postal Service for 300 additional anthrax-detection modules.
The news also caused Pacific Growth Equities today to upgrade Cepheid stock to "overweight" from "equal weight."
As GenomeWeb News reported this morning, Cepheid said the USPS will use the instruments, which are based on the firm's GeneXpert PCR technology, at mail processing centers in the
The USPS will use them with Biohazard Detection Systems developed by Northrop Grumman's Security Systems to detect biological threats for the USPS. The new order is part of the second phase of the project, with modules being installed starting in April. At present, the company is shipping and installing 800 GeneXpert modules that were ordered for the first phase of the project.
Cepheid expects an additional order of 300 modules later this year. In total, detection systems are planned for 283 mail processing centers throughout the
Pacific Growth Equities said it now expects Cepheid to post $71.9 million in first-quarter revenue. It had originally expected the company to generate $61.9 million in revenue.