UPDATE: Cantor Fitzgerald Maintains Life Technologies at Hold Following Test Results
Cantor Fitzgerald reiterated its Hold rating and $47 price target on Life Technologies (NASDAQ: LIFE).
Cantor Fitzgerald noted, "Earlier today, LIFE announced the launch of a CLIA-based, lung cancer risk stratification test for early stage lung cancer. The test (Pervenio Lung RS) was obtained through the acquisition of Pinpoint Genomics (July 25) and immediately leverages CLIA capabilities from the Navigenics acquisition (July 16). Based on currently available data, we are uncertain about the longer-term clinical utility of the test (other than to treat most early stage patients more aggressively), although we are turning positive on the tangible progress LIFE continues to make in building diagnostics capabilities."
Life Technologies closed at $48.92 on Tuesday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.