Canaccord Genuity reissued their buy rating on shares of HTG Molecular Diagnostics (NASDAQ:HTGM) in a report published on Tuesday morning, AnalystRatings.com reports. Canaccord Genuity currently has a $5.00 target price on the medical research company’s stock.
“We reiterate our $5 price target. Q1 beat. Q1/19 revs of $3.2M (-23% Y/Y) beat our $2.6M and the guide of $2.5-3.0M. HTG’s core product revenue of $2.7M (+54%) beat our 1.7ME, and was offset by research revenue of just $0.5M (-78% Y/Y) which was down as two of its active PDP programs are on hold” or paused”. Recall that collaboration revenues are lumpy, and HTG drove +56% growth in pharma (PDP) revenue in FY’18. LPS of ($0.19) beat our ($0.26) on lighter spend. HTG now holds $25M of cash on its balance sheet. ILMN amendment. In April, HTG amended its IVD test development agreement with Illumina, for the development and commercialization of RNA or DNA profiling tests for use with ILMN’s MiSeqDx sequencer in oncology diagnostics.”,” the firm’s analyst commented.
HTGM has been the topic of several other reports. Cantor Fitzgerald reaffirmed a buy rating and set a $7.00 price objective on shares of HTG Molecular Diagnostics in a research report on Monday, January 14th. Zacks Investment Research cut HTG Molecular Diagnostics from a buy rating to a hold rating in a research report on Tuesday, January 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $6.00.
Shares of NASDAQ:HTGM traded down $0.03 on Tuesday, hitting $2.34. 32,625 shares of the company traded hands, compared to its average volume of 205,470. HTG Molecular Diagnostics has a 52 week low of $2.03 and a 52 week high of $5.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.30 and a quick ratio of 6.05. The company has a market capitalization of $70.75 million, a PE ratio of -3.90 and a beta of 1.80.
HTG Molecular Diagnostics (NASDAQ:HTGM) last issued its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). HTG Molecular Diagnostics had a negative net margin of 80.03% and a negative return on equity of 75.50%. The company had revenue of $3.20 million for the quarter, compared to the consensus estimate of $2.77 million. On average, sell-side analysts anticipate that HTG Molecular Diagnostics will post -0.61 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. purchased a new position in HTG Molecular Diagnostics in the first quarter worth about $47,000. TD Asset Management Inc. lifted its position in shares of HTG Molecular Diagnostics by 4.9% during the 1st quarter. TD Asset Management Inc. now owns 98,164 shares of the medical research company’s stock valued at $245,000 after buying an additional 4,600 shares in the last quarter. Cowen Prime Services LLC purchased a new position in shares of HTG Molecular Diagnostics during the 1st quarter valued at about $50,000. Perkins Capital Management Inc. lifted its position in shares of HTG Molecular Diagnostics by 37.8% during the 1st quarter. Perkins Capital Management Inc. now owns 619,920 shares of the medical research company’s stock valued at $1,550,000 after buying an additional 169,970 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of HTG Molecular Diagnostics by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 217,965 shares of the medical research company’s stock valued at $553,000 after buying an additional 28,472 shares in the last quarter. 51.06% of the stock is currently owned by institutional investors and hedge funds.
About HTG Molecular Diagnostics
HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.
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