Auriga Says Sequenom Is All Quiet Ahead Of Data Storm

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.