By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Three investment banks have initiated coverage of GenMark Diagnostics with favorable ratings.

Piper Jaffray issued an "overweight" rating and an $8 price target on GenMark's stock, saying its current valuation does not reflect the potential of the firm's technology or assay pipeline.

William Blair also initiated coverage with an "outperform" rating, and ThinkEquity initiated coverage with a "buy" rating.

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