JP Morgan

The index, which outperformed the Dow Jones and the Nasdaq this month, gained 11 percent and rebounded from its 11 percent loss in December.

The investment bank said it is encouraged by the company's strong pipeline and position among its competitors but sees further upside for its stock.

Companies in the life science tools and molecular diagnostics spaces provided updates on their businesses at the 36th annual JP Morgan Healthcare Conference this week in San Francisco.

Cowen and Leerink rated Quanterix at Outperform while JP Morgan initiated coverage with an Overweight rating — the banks managed the company's $74 million IPO.

The investment bank previously had a Neutral rating for the company, and it lowered the price target on Genomic Health's stock to $25 from $28. 

The company immediately borrowed $255 million to pay part of the $680 million price tag for Alere's MeterPro cardiovascular and toxicology business and its BNP assay business.

The gene editing firm has sold all 5.9 million shares offered to the public as well as 885,000 shares in the fully exercised over-allotment option to the underwriters.

The chemistry will be single-molecule, based on hybridization, and will not require amplification, enzymes, or library prep, the firm said.