NEW YORK (GenomeWeb News) – Shares of Illumina reached an all-time high of $91.41 in Wednesday trade on the Nasdaq before pulling back slightly to close at $90.10.
Meanwhile, Sequenom's shares hit a 52-week high of $17.52 during Wednesday trade, also on the Nasdaq, before closing at $17.37.
Illumina’s shares have been rising steadily over the past few weeks in advance of its second-quarter results being released later this month.
The firm has said that it expects to report second-quarter revenues of $127 million to $132 million with earnings per share of $.37 to $.40, which is above the consensus forecast from analysts of $.28 per share. For fiscal 2008, the firm expects to bring in revenues of between $515 million and $535 million.
Sequenom's stock is trading at a level not seen since early 2001. The company said earlier today that the underwriters of its recently completed public offering of common stock have exercised an option to acquire an additional 825,000 shares. It raised net proceeds of $92 million in the offering.
Sequenom's shares have risen sharply over the past month after it said that a blinded study showed that its molecular test for Down syndrome correctly identified 100 percent of all Down syndrome samples without any false-positive outcomes.