stock downgrade | GenomeWeb

stock downgrade

The investment bank provided the updates as part of its 2017 outlook on the US life science tools and diagnostics markets.

Revenues rose thank to an increase in the company's human health business, which offset a decline in its environmental health segment.

Mizuho Securities has lowered its rating of the company to Neutral from Buy and cut the price target on its stock nearly in half to $6.50 from $12.

The investment bank said it expects that continued margin expansion will be more challenging than the company's stock price indicates.

The molecular diagnostics company said the number of Atlas instruments placed with customers under commercial agreements rose to 41 from 38 in Q4 2014.

The investment bank believes there's more risk for a downside on the company's stock than there is potential for an upside.

The investment bank said the company's stock has performed well in recent years and is now "appropriately priced."

The investment bank also raised its outlook on the life science tools sector, lowered its view of labs, and stayed steady on diagnostics.

Wells Fargo downgraded Cepheid from Outperform to Market Perform, citing the firm's "credibility and visibility" following a revised 2017 outlook.

GenMark officials announced an expected delay in launching the CE-marked version of the ePlex system, which in turn affected its US launch timeline.

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