NEW YORK (GenomeWeb News) – RW Baird today downgraded Complete Genomics to Neutral from Outperform on Illumina's introduction of its rapid Individual Genome Sequencing service with a turnaround time of as little as two weeks.
This article has been updated to include comments from Affymetrix.
The strong demand Illumina has seen for its family of exome arrays apparently took the company by surprise, an Illumina executive said last week.
In a research note, analyst Quintin Lai noted the recent FDA approval of the protein biomarker-based test developer's Galectin-3 test, as well as partnerships forged with several IVD instrument manufacturers that could speed adoption of the test.
According to CEO Amit Kumar, talks with "potential suitors" for strategic deals that may include the sale of the company or its businesses are "progressing" and the firm is ready to evaluate offers from interested parties.