NEW YORK (GenomeWeb News) – Shares in Cepheid have climbed more than 8 percent today following a morning upgrade of the company's stock by an analyst with William Blair & Co.
Analyst Brian Weinstein upgraded Cepheid shares to "outperform" from "market perform," noting expected revenues from new diagnostic products and increased hospital spending in 2010.
In afternoon trading on Nasdaq, Cepheid's shares had risen 8.3 percent to $15.58 from $14.38 at close of market on Friday.
Last week, Sunnyvale, Calif.-based Cepheid said that the US Food and Drug Administration had granted Emergency Use Authorization for its Xpert Flu A Panel test; as well as permission to market its Xpert vanA test for the antimicrobial resistance gene most commonly associated with vancomycin-resistant enterococci.