GNMK - Better Guidance Fails To Boost GenMark As The COVID-19 Story No Longer Surprises
- GenMark guided to a meaningfully better quarter than the sell-side had expected, with revenue about 12% higher than the average sell-side estimate and strong ePlex system placements.
- The market may be moving on, assuming that antigen-based testing will become the dominant approach for COVID-19 screening, and leaving questions about long-term ePlex adoption/use still to be answered.
- I see upside to $16-$17 on mid-teens near-term growth, but the "what's next?" question could loom large if utilization momentum starts to fade in the coming quarters.
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Better Guidance Fails To Boost GenMark, As The COVID-19 Story No Longer Surprises