Sequenom, Inc., a wholly owned subsidiary of Sequenom, Inc. (NASDAQ:SQNM), a life sciences company committed to enabling healthier lives through the development of innovative products and services, announced today that it has signed a national agreement with UnitedHealthcare Insurance Company, effective October 1, 2015, covering 43 million people throughout the United States, to provide the MaterniT21®PLUS, HerediT® CF Carrier Screen and HerediT® UNIVERSAL Carrier Screen laboratory-developed tests (LDT). The addition of this contract brings the number of covered lives under agreement by Sequenom Laboratories’ diagnostic services to more than 200 million.
The MaterniT21 PLUS test reports on trisomy 21, 18, 13, 16 and 22, sex chromosome aneuploidies, fetal sex and select microdeletions in single or multifetal gestations as early as 10 weeks in a pregnancy. Estimates suggest there are about 750,000 pregnancies at high risk for fetal chromosomal abnormalities each year in the United States.
The HerediT CF Carrier Screening test analyzes the most clinically relevant mutations and variants related to cystic fibrosis. The HerediT UNIVERSAL Carrier Screening test is a comprehensive, customizable expanded test that screens for > 250 diseases and > 2,000 disease-causing mutations. (Original Source)
Shares of Sequenom closed yesterday at $2.07. 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 $2.26 and its 200-day moving average is $3.29.
On the ratings front, Wedbush analyst Zarak Khurshid maintained a Hold rating on SQNM, with a price target of $3.50, in a report issued on August 4. The current price target represents a potential upside of 69.1% from where the stock is currently trading. According to TipRanks.com, Khurshid has a total average return of -1.1%, a 59.6% success rate, and is ranked #2851 out of 3765 analysts.
Sequenom Inc is a molecular diagnostic testing and genetics analysis company which provides molecular diagnostic testing services.