UPDATE: Wedbush Maintains Sequenom at Neutral on Complicated Competitive Environment
In a report published Tuesday, Wedbush maintained Sequenom (NASDAQ: SQNM) at Neutral with a $5.00 price target.
Wedbush reported that, “We are expecting SQNM to report revenue of $33 MM and an EPS loss of ($0.22) when the company reports 4Q12 results after the market closes on Thursday, March 7th, 2013 (5:00 pm EDT conference call, dial-in 800-860-2442, webcast: www.sequenom.com). FC consensus estimates are for $32 MM and a loss of ($0.23). As a reminder, SQNM announced preliminary 4Q12 top-line results on 1/6/13 which were $4 MM above consensus. 4Q12 volumes appeared to accelerate solidly in November & December with >60,000 MaterniT21 tests accessioned in 2012 and the year-end annual runrate north or 120,000. The 4Q12 number of tests accessioned was roughly 3k above our original estimate, which was particularly impressive given the holiday season.”
Sequenom's shares closed at $4.55 on Monday.
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