Sequenom, Inc. (NASDAQ:SQNM), a life sciences company committed to enabling healthier lives through the development of innovative products and services, provides its current revenue outlook for the second half of 2015.
The Company is updating its revenue expectations for the second half of the year to a range between $57 million and $61 million, bringing 2015 annual revenue expectations to a range between $127 million and $131 million.
Drivers for the updated expectations include increased competition and price compression in the noninvasive prenatal testing (NIPT) market.
“2015 has been and is a pivotal year for Sequenom. It is also a year of transition,” stated Dirk van den Boom, Interim President and CEO of Sequenom. “Importantly, we continue to make significant progress implementing our strategy in reproductive health, including advancing our in-network strategy, and improving our reach into the broader NIPT market with new product launches. Within reproductive health, I am particularly enthusiastic about our MaterniT™ GENOME laboratory-developed test. This launch represents an exciting new test that should allow for future growth in the NIPT market. Moreover, we continue to make progress in oncology. We plan on elucidating in greater detail both our reproductive health business and our oncology opportunity at the September 28 Analyst Day. In parallel, we are focused on increasing our organizational effectiveness, and operational efficiency to ensure Sequenom’s industry leadership position.”
The Company expects to announce its financial results for the third quarter on November 4, 2015, and will provide further discussion of its operating results at that time. (Original Source)
Shares of Sequenom closed yesterday at $2.08. SQNM has a 1-year high of $4.80 and a 1-year low of $1.82. The stock’s 50-day moving average is $2.15 and its 200-day moving average is $3.23.
On the ratings front, Sequenom has been the subject of a number of recent research reports. In a report issued on September 23, William Blair analyst Brian Weinstein reiterated a Buy rating on SQNM. Separately, on August 4, Wedbush’s Zarak Khurshid maintained a Hold rating on the stock and has a price target of $3.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brian Weinstein and Zarak Khurshid have a total average return of 6.8% and -0.9% respectively. Weinstein has a success rate of 48.1% and is ranked #1161 out of 3764 analysts, while Khurshid has a success rate of 52.9% and is ranked #2737.
Sequenom Inc is a molecular diagnostic testing and genetics analysis company which provides molecular diagnostic testing services.