HTG Molecular Diagnostics’ (HTGM) Buy Rating Reaffirmed at Canaccord Genuity

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HTG Molecular Diagnostics (NASDAQ:HTGM)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a note issued to investors on Tuesday, reports. They presently have a $5.00 price target on the medical research company’s stock. Canaccord Genuity’s price target suggests a potential upside of 97.63% from the stock’s current price.

The analysts wrote, “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.””

A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded HTG Molecular Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, May 11th. Cantor Fitzgerald set a $6.00 price objective on HTG Molecular Diagnostics and gave the stock a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.00.

HTGM stock opened at $2.53 on Tuesday. The company has a quick ratio of 6.05, a current ratio of 6.30 and a debt-to-equity ratio of 0.63. HTG Molecular Diagnostics has a one year low of $2.03 and a one year high of $5.46. The stock has a market cap of $71.31 million, a price-to-earnings ratio of -4.22 and a beta of 1.80.

HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The firm had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $2.77 million. HTG Molecular Diagnostics had a negative net margin of 80.03% and a negative return on equity of 75.50%. Sell-side analysts predict that HTG Molecular Diagnostics will post -0.59 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of HTGM. Jane Street Group LLC bought a new stake in shares of HTG Molecular Diagnostics in the fourth quarter valued at approximately $27,000. Raymond James Financial Services Advisors Inc. bought a new position in HTG Molecular Diagnostics in the fourth quarter worth $29,000. Charles Schwab Investment Management Inc. bought a new position in HTG Molecular Diagnostics in the first quarter worth $47,000. Cowen Prime Services LLC bought a new position in HTG Molecular Diagnostics in the first quarter worth $50,000. Finally, Millennium Management LLC bought a new position in HTG Molecular Diagnostics in the fourth quarter worth $151,000. 51.06% of the stock is owned by institutional investors.

HTG Molecular Diagnostics Company Profile

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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Analyst Recommendations for HTG Molecular Diagnostics (NASDAQ:HTGM)

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