Oppenheimer Initiates SQNM At Perform, $9 PT

Oppenheimer is initiating coverage of Sequenom Inc. SQNM with an Outperform rating and a $9 price target.

“Sequenom is a hybrid diagnostics and life science tools company,” Oppenheimer writes. “Revenues are currently derived predominantly from sales of the MassArray system and related consumables. However, the real value of SQNM lies within the developmental Trisomy 21 program.”

Sequenom closed today at $5.62.