Market Overview

Canaccord Genuity Reiterates Buy Rating, $50 PT on Cepheid

Share:
Related CPHD
Morning Market Losers
Benzinga's Top Downgrades

In a report published Friday, Canaccord Genuity reiterated its Buy rating and $50.00 price target on Cepheid (NASDAQ: CPHD).

Canaccord Genuity noted, “CPHD announced that it has obtained FDA approval for its GeneXpert test for CT/NG (Chlamydia/gonorrhea), in line with our expectations...We are making no changes to our model at this time. We estimate CPHD will drive CT/NG revenues of $11M in 2013, which assumes an ASP of ~$27 and volumes of 407,000 tests. We estimate the worldwide CT/NG market (led by HOLX, BD and Roche) is about $500M ($350M US/$150M OUS). Our estimate of $11M in sales in 2013 implies CPHD can capture 2-3% of the market in year one. CDC estimates 2.8M infections of CT per year in the U.S. (1.4M reported) and 700,000 infections of NG per year in the U.S. (300,000 reported).”

Cepheid closed on Thursday at $32.70.

Latest Ratings for CPHD

DateFirmActionFromTo
Jul 2015Evercore PartnersDowngradesHoldSell
Jun 2015Craig-HallumUpgradesHoldBuy
Apr 2015JMP SecuritiesMaintainsMarket Outperform

View More Analyst Ratings for CPHD
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Reiteration Analyst Ratings

 

Related Articles (CPHD)

Get Benzinga's Newsletters