In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on HTG Molecular Diagnostics (NASDAQ: HTGM), with a price target of $7. The company’s shares closed yesterday at $5.34, close to its 52-week high of $5.83.
Selvaraju noted:
“As we roll forward the DCF analysis, our estimated market value of the firm has increased from $192M to $200M. Assuming 28.5M shares outstanding as of end-3Q19, this translates to a per share value of about $7, the same as previously.”
According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 7.5% and a 46.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Synergy Pharmaceuticals Inc.
Currently, the analyst consensus on HTG Molecular Diagnostics is a Strong Buy with an average price target of $6.67, representing a 24.9% upside. In a report issued on September 20, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $7 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 $5.84 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.
