NEW YORK (GenomeWeb News) – Investment bank Goldman Sachs this week lowered its earnings-per-share estimates for Qiagen as well as its six-month price target on the firm's stock. The bank revised its estimates following the recent completion of Qiagen's acquisition of Cellestis.
Goldman Sachs now expects full-year 2011 EPS of $.89 versus a previous estimate of $.91. It maintained the 2012 EPS estimate at $.98, but lowered the 2013 estimate to $1.05 from $1.08 and the 2014 estimate to $1.15 from $1.20.
The bank also placed a $14 price target on Qiagen's stock compared to a previous target of $15.
PerkinElmer has opened a centralized newborn screening lab in Cairo, Egypt, with the support of the Egyptian Ministry of Health and Population. The firm said newborn screening will be offered free of charge to all Egyptian families.
IntelligentMDx this week said that it has received the CE Mark for its VanR test, which runs on Abbott's m2000 molecular diagnostics platform and detects and distinguishes the vanA and vanB genes that are found in vancomycin-resistant enterococci. The firm noted that it also recently launched its CE-Marked C. difficile test.
GeneNews intends to seek shareholder approval to complete a share consolidation on the basis of one post-consolidation common share for every six pre-consolidation common shares. It believes the consolidation will make its shares more marketable and position the firm for future financing transactions and corporate development opportunities.
The Massachusetts General Cancer Center at Massachusetts General Hospital has received a $10 million gift from former Genzyme CEO Henri Termeer to create the Henri and Belinda Termeer Center for Targeted Therapies. The new center will focus on discovering personalized cancer medicines and will be led by Jose Baselga, chief of hematology/oncology and associate director of MGCC.
In Brief This Week is a Friday column containing news items that our readers may have missed during the week.