The investment bank based the upgrade on potential for growth in the installed base of Quidel's immunoassay and molecular instruments, among other factors.
The increased revenues were due primarily to cardiac immunoassay sales from the newly acquired Triage and BNP businesses as well as increased sales of rapid immunoassay products.
Among the firms reporting, BGI talked about plans to cut down the time and cost of its WGS service, and Invitae's CEO made a surprising proclamation about genetic testing.
The firm plans to use $110 million of the net cash proceeds to pay down debt.
The Index underperformed the Dow, Nasdaq, and Nasdaq Biotechnology Index, reversing gains it had made in October and November.
The firm's Group A Strep test for use on its Sofia2 analyzer also received CLIA waiver from the agency.
In a new business update, the firm also said it plans to sell and lease back an Abbott manufacturing facility in California for $147 million.
The firm's molecular business also continued to grow, with a revenue increase of 13 percent.
The test detects and differentiates respiratory syncytial virus and human metapneumovirus on the firm's Solana rapid molecular platform.
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 Washington Post reports that a Russian Academy of Sciences commission has led to the retraction of hundreds of scientific papers.
The Los Angeles Times' Daily Pilot reports the chief executive of Vantari Genetics has pleaded guilty in a kickback scheme.
News 4 Jax reports that a Florida bill to prevent life and long-term care insurers from using genetic information in their coverage decisions has easily passed one committee.
In Science this week: potentially pathogenic mutations found in hematopoietic stem cells from young healthy donors, and more.