Quidel Corporation (QDEL) shares are soaring 10.87% in Thursday's pre-market trading session, following the company's impressive first-quarter earnings report, maintained fiscal 2025 guidance, and a target price upgrade from JPMorgan. The medical diagnostics company has demonstrated resilience in a challenging market environment, surpassing analyst expectations and reinforcing investor confidence.

Quidel reported adjusted earnings of $0.74 per diluted share for Q1 2025, significantly outperforming the FactSet analyst consensus of $0.59 per share. This represents a substantial year-over-year increase from $0.44 per share in the same quarter last year. While revenue slightly declined to $692.8 million from $711 million a year earlier, it still exceeded analyst projections of $689.6 million.

Adding to the positive sentiment, Quidel maintained its fiscal 2025 guidance, projecting adjusted earnings of $2.07 to $2.57 per diluted share on revenue of $2.60 billion to $2.81 billion. This outlook aligns well with analyst expectations of $2.36 per share on revenue of $2.70 billion. The company's ability to maintain its guidance despite market uncertainties has likely contributed to investor optimism. Furthermore, JPMorgan's decision to raise Quidel's target price from $25 to $27 following the earnings report has provided additional support for the stock's upward movement, although it's worth noting that UBS has cut its target price to $29 from $45.