H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on HTG Molecular Diagnostics (HTGM) today and set a price target of $8. The company’s shares closed yesterday at $2.50, close to its 52-week low of $2.03.
Selvaraju noted:
“Our 12-month target is based on an estimated market value of the firm at $231M. This includes an asset value at $241M for the HTG EdgeSeq platform, a 15% discount rate and 0% terminal growth rate, excluding $10M debt and assuming 28.7M shares outstanding as of end-1Q20.”
According to TipRanks.com, Selvaraju is a 2-star analyst with an average return of 0.3% and a 35.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for HTG Molecular Diagnostics with a $6.33 average price target, a 153.2% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $6 price target.
See today’s analyst top recommended stocks >>
Based on HTG Molecular Diagnostics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.13 million. In comparison, last year the company had a GAAP net loss of $5.38 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
