Gen-Probe Inc. (NASDAQ: GPRO) Downgraded by Piper Jaffray to Neutral
Friday, April 29, 2022 4:00 PM

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Piper Jaffray downgraded Gen-Probe Incorporated (NASDAQ: GPRO) to Neutral from Overweight citing valuation concerns and maintains a $78 price target for shares.

The company recorded total revenue of $143 million and non-GAAP earnings per share (EPS) of $0.54 in Q1 2011, 13 percent higher than in the prior year period. In the first quarter of 2011, Gen-Probe generated net cash of $40.1 million from operating activities, substantially higher than GAAP net income of $23.3 million.

Shares were last traded at $79.61, up 13.47 percent Thursday. GPRO has a 52-week low of $42 and a 52-week high of $84.17. The company has a total market cap of $3.37 billion. The price to earnings ratio of the company is 32.82, and the PEG ratio is 2.29.

Gen-Probe Inc. engages in the development, manufacture, and marketing of nucleic acid tests used primarily to diagnose human diseases and screen donated human blood in North America and internationally. It has a collaboration agreement with Novartis Vaccines and Diagnostics, Inc. for the research, development, and manufacturing of its blood screening products. The company was founded in 1983 and is headquartered in San Diego, California.

 

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