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Quidel

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 index gained 1 percent, outperforming the Nasdaq Biotechnology Index, but underperforming the Dow, which gained 2 percent.

Investment banks Canaccord Genuity and Raymond James also raised their price targets on the company.

The Index fell less than 1 percent in July, underperforming the Dow, the Nasdaq, and the Nasdaq Biotechnology Index.

The company plans to expand into new markets through its recent acquisition of Alere Triage assets.

Canaccord and William Blair also increased their price targets on  Quidel's shares, following its acquisition of certain Alere assets and assays.

The test can generate results in around 35 minutes from stool samples and requires no upfront nucleic acid extraction.

Influenza revenues rose 112 percent due to an especially long and severe respiratory disease season, dominated by a virulent H3N2 strain of influenza.

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