In a report published by Auriga, Sequenom SQNM is all quiet ahead of the data storm.
Auriga said that Sequenom reported essentially in-line 4Q10 results and provided an update on key next steps in its AMD (Age-Related Macular Degeneration) and T21 clinical diagnostic programs. “SQNM's T-21 LDT clinical validation study is progressing well and is on track for completion by the end of 2Q11, setting up a possible publication around the turn of the year. The launch of an AMD scoring test remains on track for mid-2011 (a manuscript has been submitted for publication). Following the recent capital raise, we have increased our share count expectations. We are lowering our price target to $7 (from $9) based on increased share count and moderation of our commercial assumptions in our valuation year (2015), but maintaining our Buy rating. Overall, it was a good quarter for SQNM ahead of what promises to be a busy year of news flow.”
Sequenom closed yesterday at $5.82.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.