UPDATE: Jefferies Resumes Coverage On Sequenom On Revised Revenue/EPS Forecasts

In a report published Thursday, Jefferies analyst Brandon Couillard resumed coverage on Sequenom (NASDAQ; SQNM) with a Buy rating and $5.00 price target, up from $4.50.

In the report, Jefferies noted, “We are resuming our rating on SQNM with a Buy and $5 PT (Restricted 9/23/13). Our revised revenue and EPS forecasts reflect the effects of SQNM's recent divestiture of its Biosciences unit, as well as expectations for a profitability & cash flow inflection in 4Q14.”

Sequenom closed on Wednesday at $3.97.