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NEW YORK – JP Morgan said Wednesday that it has downgraded GenMark Diagnostics' stock to Neutral from Overweight and lowered the molecular diagnostic firm's December 2020 stock price target to $7 from $11.

The investment bank said Carlsbad, California-based GenMark experienced healthy momentum this year in placements of its ePlex molecular diagnostic analyzers, but reimbursement and competitive pressures pose a risk to its business outlook.

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