Oppenheimer Initiates CPHD At Outperform, $33 PT

Oppenheimer is initiating coverage of Cepheid (NASDAQ: CPHD) with an Outperform rating and $33 target price.

“Cepheid is a pure play molecular diagnostic company with a pioneering technology platform, the GeneXpert,” Oppenheimer writes. “Expansion of the testing menu with the launch of CT/NG and drug resistant tuberculosis tests, coupled with massive gross margin leverage from royalty payment expirations, are powerful near-term drivers.”

Cepheid closed today at $25.27.