Wells Fargo downgraded Cepheid from Outperform to Market Perform, citing the firm's "credibility and visibility" following a revised 2017 outlook.
At the AMP meeting this week, JHU's Sara Sukumar discussed efforts to adapt a cell-free methylated DNA assay for breast cancer to a Cepheid Xpert cartridge.
The GenomeWeb Index was up around 2 percent, but its performance was well behind the broader stock market.
The firm claimed delays in a planned sales force expansion were partly to blame for lower-than-expected revenues; it also announced the FDA clearance of an assay for Trichomonas vaginalis.
The investment bank issued its downgrade citing concerns about changes to Cepheid's sales force and a flattening of its MRSA assay sales.
The firm reported results today in line with preliminary results reported last week, and affirmed its updated full-year guidance.
With recent and impending launches of POC MDx platforms, some industry observers believe the technology could replace some POC immunoassays in a few years.
In addition to a steep slide in the company's share price, Raymond James lowered its rating for Cepheid's stock to Market Perform.
For the quarter ended Sept. 30, Cepheid reported preliminary revenue of approximately $126.5 million, shy of the Wall Street estimate of $127.8 million.
A number of firms now have FDA-approved Group A Strep assays, but end users may be hesitant to adopt them until Infectious Disease Society of America guidelines are updated.
An analysis of UK Biobank data finds hemochromatosis to be more prevalent than thought, according to the BBC.
An analysis finds that female biomedical researchers receive fewer prizes than male ones, and when they do win prizes, they are less prestigious.
In Nature this week: improved genomic analysis using a graph genome reference, tumor mutational burden could predict clinical response to immune checkpoint inhibitors, and more.
Federal researchers tell the Los Angeles Times that the shutdown is causing missed research opportunities as they try to keep their experiments going.