Sequenom shares oversold at current levels, says Maxim Maxim says Sequenom (SQNM) shares are oversold following the acquisition of competitor Verinata by Illumina (ILMN) and Verinata's partnership with PerkinElmer (PKI). The firm believes remains Sequenom remains well positioned for long-term growth and reiterates a Buy rating on the stock.
Sequenom sees FY14 revenue $151M, consensus $160.7M Sequenom reported FY14 preliminary revenue of $151M earlier in slides for its upcoming presentation at the JP Morgan Healthcare Conference. The company said in the slides that it had reduced its cash burn from $107M in FY13 to $37M in FY14 and ended FY14 with approximately $94M in cash. The company reported FY14 NIPT accessioned tests of 162. Sequenom shares are down 1% in afternoon trading after this morning's disclosure of the conference slides.