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 opened today at $3.25.
Selvaraju observed:
“We note that WIN is a non-profit, non- governmental organization focused on personalized cancer medicine, which was established in 2010 with leadership from leading cancer centers worldwide. WIN aims to initiate research projects each year in a global consortium guided by an independent scientific advisory board. This year, the consortium plans to launch a new study called MERCURY. According to the protocol, MERCURY will enroll patients with a range of tumors, and match them to a variety of drug arms including single and combination agents based on genomic and transcriptomic profiling. Patients will be tested on a 270-gene next-generation sequencing (NGS) panel and have their differential gene expression measured in normal and tumor tissues using HTG Molecular Diagnostics’ nuclease assay.”
According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -0.9% and a 39.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HTG Molecular Diagnostics with a $7 average price target.
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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 $5.84 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.
