After Raymond James and Cantor Fitzgerald gave HTG Molecular Diagnostics (NASDAQ: HTGM) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on HTG Molecular Diagnostics today and set a price target of $8. The company’s shares closed on Friday at $3.65.
Selvaraju commented:
“Our price target is derived from a market value of the firm at $222M excluding debt. This includes a discounted cash flow analysis based asset value at $231M for the HTG EdgeSeq platform, with a 15% discount rate and 0% terminal growth rate. Investment risks include: (1) failure of EdgeSeq tests in clinical development; (2) failure of EdgeSeq tests to achieve commercial success due to lower-than-expected market size, lower-than-anticipated penetration rates, and/ or higher-than-expected levels of competition; and (3) potential dilution risk.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.9% and a 28.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Fennec Pharmaceuticals Inc.
HTG Molecular Diagnostics has an analyst consensus of Strong Buy, with a price target consensus of $6.75, which is an 84.9% upside from current levels. In a report issued on November 9, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $7 price target.
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Based on HTG Molecular Diagnostics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.84 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.
