Market Overview

Piper Jaffray Maintains Overweight Rating on Gen-Probe

According to Piper Jaffray, Gen-Probe (NASDAQ: 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.

Posted-In: Piper JaffrayAnalyst Color Analyst Ratings

 

Most Popular

Related Articles (GPRO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free