7:19AM Sequenom upgraded to Hold at Auriga U.S.A; tgt raised to $4 (SQNM) 4.36 : Auriga U.S.A upgrades SQNM to Hold from Sell and raises their tgt to $4 from $3. The firm notes that in the past, they have valued the co based on 4x revenues of the genetic analysis segment of $36 mln plus the residual cash of $39 mln. Today, the firm recognizes that the molecular diagnostics business has a finite value and, therefore, they are changing their rating. Given the financing risk for Sequenom in 2010, the competitive market for the CF test and yet-to-be published related data, the firm believes that a lower multiple on the molecular diagnostic segment is warranted. At the same time, they caution investors of the regulatory risks associated with the stock.
surf's up......crikey
