Cantor Fitzgerald analyst Jordan Abrams reiterated a Buy rating on HTG Molecular Diagnostics (HTGM) today and set a price target of $7. The company’s shares closed yesterday at $4.14.
Abrams said:
“. We reiterate our Overweight rating and 12-month price target of $7 on shares of HTGM. HTG reported 3Q18 revenue of $4.7MM (+26%), $0.4MM below FactSet consensus. Product and service RUO revenue was lighter than our expectations, but was offset by strong revenue from Collaboration Agreements. HTG expects to achieve the midpoint of its previously indicated 2018 revenue guidance ($21-25MM), implying 17% top-line growth in 4Q. We think momentum is starting to pick up for HTG with a number of drivers in the business expected to materialize in late 2018 into 2019.”
Abrams has an average return of 4.9% when recommending HTG Molecular Diagnostics.
According to TipRanks.com, Abrams is ranked #1651 out of 4912 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for HTG Molecular Diagnostics with a $6.75 average price target.
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Based on HTG Molecular Diagnostics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.1 million. In comparison, last year the company had a GAAP net loss of $5.38 million.
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HTG Molecular Diagnostics, Inc. engages in the provision of molecular technology solutions that facilitates molecular profiling. Its customers include biopharmaceutical companies, academic research centers, and molecular testing laboratories. The company was founded by Bruce E. Seligmann in October 1997 and is headquartered in Tucson, AZ.
