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Quidel

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.

The firm's molecular revenues rose 72 percent during the fourth quarter and 75 percent during full-year 2016.

Companies with diverse infectious disease diagnostic technology offerings said that molecular methods are complementary to, not competitive with traditional diagnostics.

Executives provided updates on their companies at the 35th Annual JP Morgan Healthcare Conference in San Francisco, CA, Day Two

The company said it expects revenues of $52 million to $53 million for the quarter, compared to analysts' average estimate of $63.1 million.

The bank said that although it is forecasting a 17 percent stronger flu season this year, Quidel's influenza sales are only likely to rise 10 percent.

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