Sequenom Price Target Increased to $7.00 by Analysts at Maxim Group (SQNM)

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Stock analysts at Maxim Group lifted their price objective on shares of Sequenom (NASDAQ:SQNM) from $6.00 to $7.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 88.17% from the company’s current price.

Shares of Sequenom (NASDAQ:SQNM) opened at 3.72 on Wednesday. Sequenom has a one year low of $1.65 and a one year high of $4.17. The stock’s 50-day moving average is $3.65 and its 200-day moving average is $2.83. The company’s market cap is $433.0 million.

Sequenom (NASDAQ:SQNM) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.10) by $0.03. The company had revenue of $39.80 million for the quarter, compared to the consensus estimate of $47.80 million. During the same quarter last year, the company posted ($0.27) earnings per share. Sequenom’s revenue was up 62.4% compared to the same quarter last year. On average, analysts predict that Sequenom will post $-0.35 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of Sequenom in a research note on Thursday, July 3rd. They set a “buy” rating and a $5.00 price target on the stock. Separately, analysts at William Blair upgraded shares of Sequenom from a “market perform” rating to an “outperform” rating in a research note on Monday, June 23rd. Finally, analysts at Wedbush raised their price target on shares of Sequenom to $5.00 in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $5.67.

Sequenom, Inc (NASDAQ:SQNM) is a molecular diagnostic testing and genetics analysis company committed to providing molecular diagnostic testing services, and research use only products, services, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural, livestock, and other areas of research.

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