HTG Molecular Diagnostics (HTGM) Stock Rating Reaffirmed by HC Wainwright

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HTG Molecular Diagnostics (NASDAQ:HTGM)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Thursday. They presently have a $7.00 price target on the medical research company’s stock. HC Wainwright’s price target would indicate a potential upside of 116.05% from the company’s current price.

The analysts wrote, “We note that the company entered into the first amendment earlier this month, which involves performing collaborative development services for what is expected to be a multi-stage project that leads to a potential NGS-based companion diagnostic assay in support of the therapeutic programs at Bristol-Myers Squibb Co. (BMY; not rated). HTG currently has two development programs ongoing in the statement of work under the master agreement with QIAGEN. The amendments allow the use of IUO assays in subsequent prospective and retrospective clinical trials for multiple indications, which are the next steps in the company’s immuno-oncology (I/O) collaboration. In our view, HTG now has more shots on goal, represented by the potential commercialization of companion diagnostics for therapeutics being developed by biopharma partners.””

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Tuesday, August 14th. ValuEngine upgraded shares of HTG Molecular Diagnostics from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Leerink Swann reiterated an “outperform” rating on shares of HTG Molecular Diagnostics in a report on Monday, July 9th. Five investment analysts have rated the stock with a buy rating, HTG Molecular Diagnostics currently has a consensus rating of “Buy” and a consensus price target of $6.00.

NASDAQ HTGM opened at $3.24 on Thursday. HTG Molecular Diagnostics has a fifty-two week low of $1.59 and a fifty-two week high of $5.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 9.50 and a quick ratio of 9.29.

HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its earnings results on Thursday, August 9th. The medical research company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $4.91 million for the quarter, compared to analysts’ expectations of $5.30 million. HTG Molecular Diagnostics had a negative net margin of 81.10% and a negative return on equity of 132.67%. sell-side analysts forecast that HTG Molecular Diagnostics will post -0.71 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of HTGM. Northern Trust Corp acquired a new position in shares of HTG Molecular Diagnostics during the first quarter worth $189,000. New York State Common Retirement Fund acquired a new position in shares of HTG Molecular Diagnostics during the first quarter worth $170,000. Stifel Financial Corp acquired a new position in shares of HTG Molecular Diagnostics during the first quarter worth $343,000. EAM Global Investors LLC acquired a new position in shares of HTG Molecular Diagnostics during the first quarter worth $684,000. Finally, Acadian Asset Management LLC acquired a new position in shares of HTG Molecular Diagnostics during the second quarter worth $353,000. Institutional investors own 36.16% of the company’s stock.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets.

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