Piper Jaffray Maintains Overweight Rating on Gen-Probe

According to Piper Jaffray, Gen-Probe GPRO Overweight rating is maintained. Piper Jaffray said that it recently completed round of channel checks suggest domestic CT/NG testing volume growth of 0.7% sequentially, higher than the -0.2% sequential CT/NG volume decline currently in its model, giving it incremental confidence in its 3Q11 Clinical Diagnostics estimate. “We are lowering our R&D spend assumptions for the quarter (was $29.7M, now $28.3M), which increases our EPS estimate to $0.54, in-line with current consensus expectations.” Gen-Probe closed yesterday at $58.93.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorAnalyst RatingsPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!