Gen-Probe (NASDAQ:GPRO) Could Return to MDx Prominence

Citing soon to come commercialization of new platforms and tests, Jefferies said Gen-Probe (NASDAQ:GPRO) may return to prominence in the MDx group.

Jefferies stated, "GPRO is a cornerstone MDx co. providing infectious disease, blood screening, and other assays. Given the upcoming commercialization of new platforms and tests, recent acquisitions, and continued execution in STD detection and amplified blood screening, we believe GPRO can return to prominence in the MDx group."

Even so, Jefferies lowered their EPS estimate for full year 2011 from $2.45 to $2.42, and for full year 2012 announced its earnings estimate, which is $2.80 a share.

Full year revenue estimates for 2011 were dropped from $596.9 million to $592.8 million. For 2012 the revenue estimate is $648.9 million.

Jefferies maintains their "Buy" rating on Gen-Probe, which closed Tuesday at $51.86, gaining $0.22, or 0.43 percent. They have a price target of $60 on them, increasing it from $54.