NEW YORK (GenomeWeb) – Investment bank Rodman & Renshaw has initiated coverage of Nanosphere at a Buy rating and a 12-month price target of $2 per share.

The bank believes that Nanosphere's Verigene infectious disease identification system has the potential for significant sales growth. Rodman analyst Yi Chen wrote that the Verigene system and test panels are differentiated from competing systems because it's based on gold nanoparticle technology and doesn't use PCR.

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