Sequenom (SQNM) jumps $1.34 to $8.26 and 25K options already traded after Cantor Fitzgerald upgraded the biotech to Buy from Hold and raised the target to $16 from $4. The analysts met with managament and cite settlement of class action along with advances in pipeline progress as reasons for the upgrade. 18K calls and 6,900 puts traded. March 9 call and April 8 puts are the most actives. Mar 7, Mar 8, Mar 10, and June 10 call seeing interest as well. Implied volatility is elevated, around 100, as investors brace for earnings. The results are expected soon, but no date has been set. A co. spokesperson says the date should be announced 48 hours to one week before the company reports.