Piper Jaffray Maintains Overweight on Sequenom (SQNM)

Piper Jaffray is out with its report today on Sequenom SQNM, maintaining Overweight. In a note to clients, Piper Jaffray writes, "We recently traveled with members of Sequenom's management team and received a favorable business update. Management reiterated T21 time-lines, with a LDT version of the assay expected upon medical journal publication of the Women & Infants study data (expected 4Q11/1Q12). In preparation for the T21 LDT launch, Sequenom has started adding sales reps to penetrate the ~700K annual domestic high-risk pregnancy opportunity and also has plans to increase capacity at its San Diego facility to meet anticipated demand. We maintain our Overweight rating and $8.50 price target on SQNM shares." Shares of SQNM closed Wednesday at $7.92.