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 on Friday at $2.33, close to its 52-week low of $2.03.
Selvaraju wrote:
“Our 12-month price target is based on an estimated market value of the firm at $237M. This includes an asset value at $247M for the HTG EdgeSeq platform, with a 15% discount rate and 0% terminal growth rate, excluding $10M debt and assuming 28.8M shares outstanding at the end of 1Q20.”
According to TipRanks.com, Selvaraju is a 2-star analyst with an average return of 0.2% and a 36.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies 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, which is a 171.7% upside from current levels. In a report issued on April 30, Cantor Fitzgerald also maintained a Buy rating on the stock with a $6 price target.
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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.
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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.
