The investment bank also cited challenges for Illumina in penetrating the clinical diagnostics markets and driving physician adoption of its tests.
The investment bank downgraded Illumina to a Neutral rating after the company missed the consensus Wall Street estimate for its revenues.
Analyst William Quirk remained bullish on the firm but downgraded the shares based on their valuation, which he said have little room to grow.
Even as Hologic enters the "sweet spot" in the adoption cycle for its 3D tomography tests, Evercore said there is "limited upside" to the company's current share price.
The investment bank noted the potential of Alere's new MDx platforms, but said that Quest's potential could suffer in comparison to its competitor LabCorp.
The downgrade follows Roche's proposed bid to acquire a majority stake in the company.
The investment bank downgraded Meridian Bioscience from a prior Market Perform rating, noting challenges to its molecular diagnostics business.
The investment bank expressed doubts about Qiagen's GeneReader NGS platform, among other things, and Bruker's mixed recent record on improving its operations.
NEW YORK (GenomeWeb News) – Investment bank Cowen and Co. has downgraded Hologic's stock from Outperform to Market Perform and lowered its price target on the shares.
NEW YORK (GenomeWeb News) – Investment firm Mizuho today downgraded Waters, citing "choppiness around the pharmaceutical market" that may cause the company's stock to "languish."
The Guardian reports that some UK physicians are calling for increased regulation of direct-to-consumer genetic tests.
US tax agency says 23andMe's genetic health test can be claimed as a medical expense for tax purposes, the Wall Street Journal reports.
Two Democratic lawmakers argue at USA Today that independent science is under attack by the Trump Administration.
In PLOS this week: networks of genes co-expressed in depression, role of minichromosome maintenance genes in lung adenocarcinoma, and more.