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Sequenom Shares Rise on 'Buy' Rating

NEW YORK (GenomeWeb News) – Shares of Sequenom rose 17.6 percent to close at $5.95 in Thursday trade on the Nasdaq after Cantor Fitzgerald initiated coverage of the firm with a “buy” rating.
 
Cantor Fitzgerald also placed a $12 price target on Sequenom’s shares and expects the firm to become profitable in 2010. The Cantor Fitzgerald analyst cited the revenue growth potential of Sequenom’s MassArray system.
 
Last month, Sequenom posted fourth-quarter 2007 revenue growth of 41 percent to $11.1 million, while its net loss climbed 28 percent to $6.8 million.
 
 

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