GenMark Diagnostics Still Not Getting A Lot Of Love

I can understand why investors may be leery of GenMark (GNMK). Although management has done a much better job of late in hitting its own targets, that has certainly not always been the case. Worse, they’re a later entrant into the multiplex molecular diagnostics field, and both bioMerieux (OTC:BMXXY) and Luminex (LMNX) enjoy bigger footprints (particularly the former with its BioFire FilmArray platform. And if that weren’t all enough, as more multiplex MDx tests become available, it is likely that reimbursement will get more complicated (if not less generous).

That all may explain in part why the shares continue to slide, down another 10% or so from the time of my last article. While I don’t dismiss the competitive and reimbursement risks, the shares already trade below where med-tech companies with similar growth rates would normally trade and GenMark has offered some evidence that its blood culture panels are driving good growth.

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GenMark Diagnostics Still Not Getting A Lot Of Love