In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Interpace Diagnostics Group Inc (IDXG), with a price target of $3.50. The company’s shares closed yesterday at $0.75, close to its 52-week low of $0.67.
Selvaraju noted:
“We note that the company’s thyroid test suite of ThyGeNEXT and ThyraMIR offers next-generation sequencing of DNA and RNA as well as a micro-RNA classifier to provide clinically actionable results. State approval allows access to a broader customer base and should help drive revenue growth, in our view. In the wake of this update, we reiterate our Buy rating and $3.50 price target.”
According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -0.1% and a 34.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Interpace Diagnostics Group Inc with a $3.75 average price target.
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Based on Interpace Diagnostics Group Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.04 million. In comparison, last year the company had a GAAP net loss of $3.19 million.
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Interpace Diagnostics Group, Inc. operates as an bioinformatics company, which engages in the development and commercialization of molecular diagnostic test and pathology services. It offers PancraGEN, a pancreatic cyst and pancreaticobiliary solid lesion molecular test that can aid in pancreatic cyst diagnosis and pancreatic cancer risk assessment; ThyGenX and PathFinderTG which assesses thyroid nodules for risk of malignancy; and ThyraMIR, which assesses thyroid nodules for risk of malignancy utilizing a proprietary gene expression assay. The company was founded by John P. Dugan in 1987 and is headquartered in Parsippany, NJ.
