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Upgrade Alert for Luminex (LMNX)

By Nick Russo

Luminex (NASDAQ:LMNX) was upgraded from Underweight to Neutral at JP Morgan today. The stock closed yesterday at $21.67 on volume of 402,000 shares, above average daily volume of 228,000.

In the past 52 weeks, shares of Luminex have traded between a low of $15.63 and a high of $23.75 and closed yesterday at $21.67, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

Luminex (NASDAQ:LMNX) is currently priced 3.9% above its average consensus analyst price target of $20.83. The stock should find initial support at its 50-day moving average (MA) of $19.65 and further support at its 200-day MA of $19.34.

Luminex Corporation has developed, manufactures, and markets a proprietary technology platform that simplifies biological testing for the life sciences industry. The Company's LabMAP system is designed to simultaneously perform up to 100 bioassays on a single drop of fluid. The Luminex 100 reads biological tests taking place on the surface of microspheres.

SmarTrend is tracking the current trend status for Luminex and will alert subscribers who have LMNX in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades luminex

Ticker(s): LMNX