HTG Molecular Diagnostics (HTGM) Rating Increased to Buy at Zacks Investment Research

HTG Molecular Diagnostics (NASDAQ:HTGM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $4.00 price objective on the medical research company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.29% from the company’s current price.

According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “

A number of other brokerages also recently weighed in on HTGM. Canaccord Genuity boosted their target price on shares of HTG Molecular Diagnostics to $5.00 in a research note on Friday, January 5th. HC Wainwright set a $6.00 target price on shares of HTG Molecular Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, December 27th. Finally, ValuEngine downgraded shares of HTG Molecular Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.25.

HTG Molecular Diagnostics (NASDAQ:HTGM) opened at $3.50 on Wednesday. The company has a market cap of $40.07 and a PE ratio of -1.37. HTG Molecular Diagnostics has a 12-month low of $1.20 and a 12-month high of $13.25.

HTG Molecular Diagnostics (NASDAQ:HTGM) last released its quarterly earnings results on Tuesday, November 7th. The medical research company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.03. equities research analysts forecast that HTG Molecular Diagnostics will post -1.92 EPS for the current fiscal year.

A hedge fund recently raised its stake in HTG Molecular Diagnostics stock. Granahan Investment Management Inc. MA grew its stake in HTG Molecular Diagnostics Inc (NASDAQ:HTGM) by 488.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416,608 shares of the medical research company’s stock after acquiring an additional 345,798 shares during the period. Granahan Investment Management Inc. MA owned 3.33% of HTG Molecular Diagnostics worth $708,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 15.15% of the company’s stock.

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About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.

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