GenMark Diagnostics Inc (GNMK) Releases Earnings Results, Reports EPS of $-0.30 EPS

GenMark Diagnostics Inc (GNMK) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $-0.30 EPS for the quarter. Analysts had a consensus estimate of $-0.30. The company posted revenue of $11.06 million in the period, compared to analysts expectations of $10.60 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.24 EPS.

Many Wall Street Analysts have commented on GenMark Diagnostics Inc. Shares were Reiterated by Needham on Feb 24, 2016 to “Buy” and Lowered the Price Target to $ 11 from a previous price target of $13 .

GenMark Diagnostics Inc closed down -0.07 points or -1.18% at $5.84 with 1,47,882 shares getting traded on Monday. Post opening the session at $5.79, the shares hit an intraday low of $5.75 and an intraday high of $5.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 14, 2016, Michael Kagnoff (director) purchased 2,500 shares at $4.90 per share price. According to the SEC, on Mar 9, 2016, Jennifer Anne Williams (SVP, Human Resources) sold 613 shares at $5.76 per share price. On Mar 9, 2016, Hany Massarany (President and CEO) sold 1,193 shares at $5.76 per share price, according to the Form-4 filing with the securities and exchange commission.

GenMark Diagnostics Inc. (GenMark) is a molecular diagnostics company. The Company is focused on developing and commercializing its eSensor detection technology. The Company’s electrochemical technology enables detection of multiple distinct biomarkers in a single sample. The Company’s XT-8 system received 510(k) clearance from the United States Food and Drug Administration (FDA) and is designed to support a range of molecular research and diagnostic tests with a workstation and disposable test cartridges. Its XT-8 system supports up to 24 independent test cartridges each of which can be run independently resulting in a workflow for its focused customers which are primarily hospitals and reference laboratories. It has an installed base of approximately 540 XT-8 analyzers or placements with its customers.

GenMark Diagnostics Inc

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