UPDATE: J.P. Morgan Initiates Coverage on GenMark Diagnostics

According to a research report published Thursday, J.P. Morgan has initiated GenMark Diagnostics

with an Overweight rating and $8 PT. In the report, J.P. Morgan said, "With an experienced management team commercializing an attractive technology (confirmed by our proprietary lab survey, discussed within) in a high-growth, high-value industry, GenMark is well positioned, in our view, to grow its installed base, broaden the offered test menu, and prepare for the late 2013 launch of its next-generation system." GenMark Diagnostics closed Wednesday at $5.37.