Maxim Group analyst Jason McCarthy maintained a Buy rating on Interpace Diagnostics Group Inc (IDXG) yesterday and set a price target of $4. The company’s shares closed yesterday at $0.71, close to its 52-week low of $0.67.
McCarthy said:
“Interpace reported 1Q19 revenue of $6M, up 25% y/y, primarily due to expansion in unit growth in both its GI and endo franchises. Revenue in 1Q19 was split ~60% endo franchise (ThyGenX/ThyGeNext/ThyraMyr) to 40% gastrointestinal (GI, PancraGen) franchise. Net loss was ($3.4M). The company ended the period with $9.1M of cash on the balance sheet.”
According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.3% and a 26.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir 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, implying a 428.4% upside from current levels. In a report issued on May 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $3.50 price target.
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The company has a one-year high of $1.78 and a one-year low of $0.67. Currently, Interpace Diagnostics Group Inc has an average volume of 286.2K.
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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.
