Cepheid upgraded at Needham As previously reported, Needham upgraded Cepheid to Buy from Hold. The firm upgraded shares based on expectations for faster growth driven by recent international launches of HPV and Norovirus, virology expansion, and U.S. sales management changes that should driver faster growth. Price target is $50.
Cepheid receives FDA emergency use authorization for Xpert Ebola diagnostic test Cepheid announced it has received Emergency Use Authorization from the FDA for Xpert Ebola, a molecular diagnostic test for Ebola Zaire Virus that delivers results in less than two hours. The test runs on the Cepheid GeneXpert Systems. Xpert Ebola has been authorized by FDA under an Emergency Use Authorization for use by CLIA moderate and high complexity laboratories or similarly qualified non-U.S. laboratories. The test will begin shipping in April. Cepheid's Xpert Ebola has not been FDA cleared or approved, but will remain available in the U.S. as an EUA product as long as the declared emergency remains in effect or it ceases to be authorized by FDA.