HTG Molecular Diagnostics (NASDAQ: HTGM) received a Buy rating and a $7 price target from Cantor Fitzgerald analyst Jordan Abrams today. The company’s shares closed yesterday at $4.31.
Abrams commented:
“: We are initiating coverage of HTGM with an Overweight rating and a 12-month price target of $7. We think HTG’s EdgeSeq offers an attractive workflow solution that addresses key challenges in many existing molecular profiling technologies on the market. We view RNA- based panels as well-positioned to capitalize on trends in biomarker development including faster turnaround time, lower sample-volume requirement, and next-gen sequencing (NGS) based testing.”
HTG Molecular Diagnostics has an analyst consensus of Moderate Buy, with a price target consensus of $6.50.
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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.
