Courtesy of Benzinga.
Oppenheimer has reported that Sequenom (NASDAQ: SQNM) is filing a prelimary injunction against Aria Diagnostics to stop Aria from producing or selling its fetal aneuploidy detection kit, the Harmony Prenatal Test, in a note out today.
Presently, Oppenheimer has an Outperform rating and $9 price target on Sequenom.
In the report, Oppenheimer writes, “Based on SQNM’s early progress generating demand for MaterniT21 and receptivity from payors, we think SQNM has a defined first-mover advantage. Successful defense of its IP is key for long-term success.”
Shares of Sequenom are currently trading at $4.72, up 5.12% from yesterday’s close.
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