UPDATE: J.P. Morgan Raises PT on GenMark Diagnostics on Strong 4Q12 Revenue

In a report published Wednesday, J.P. Morgan analyst Tycho W. Peterson reiterated his Overweight rating on GenMark Diagnostics

, and raised his price target from $11.00 to $13.00. In the report, Peterson noted, “GenMark Diagnostics' (GNMK) 4Q12 revenue again beat JPM and street expectations, driven by broad-based strength across the assay menu, but especially the new Respiratory Viral Panel, which launched in the quarter and saw significant uptake due to the early and strong flu season. The company guided 2013 revenue >10% above consensus; we are increasing estimates and our DCF derived price target from $11 to $13. We continue to believe that GNMK is a highly attractive small-cap technology story and reiterate our Overweight rating.” GenMark Diagnostics closed on Tuesday at $11.05.