HTG Molecular Diagnostics Gets a Buy Rating from H.C. Wainwright


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 $3.62.

Selvaraju wrote:

“We note that this is not surprising as only 9.6% of all drug candidates manage to get from Phase 1 to approval across all diseases and all modalities, according to published literature. This termination has nothing to do with the performance of HTG’s technology and does not affect the other two development programs included in the statement of work. More importantly, it has no impact on the company’s guided revenue for 2018. In fact, the company now has more resources available to be allocated to other projects that may potentially bring upside to the 2018 full-year revenue guidance of $21.0-25.0M, based on our discussion with the management.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.5% and a 39.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

HTG Molecular Diagnostics has an analyst consensus of Moderate Buy, with a price target consensus of $7.

See today’s analyst top recommended stocks >>

Based on HTG Molecular Diagnostics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.38 million. In comparison, last year the company had a GAAP net loss of $5.82 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.

Read More on HTGM:

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts