In a report released today, Caroline Palomeque from Maxim Group maintained a Buy rating on Interpace Diagnostics Group Inc (IDXG), with a price target of $4. The company’s shares closed yesterday at $0.96.
Palomeque wrote:
“Interpace Diagnostics reported 4Q18 and FY18 net revenue of $5.8M, up 33% y/y, and $21.9M, up 38% y/y, respectively, due to expansion in units and improved reimbursement. Net loss was ($4.0M) for the quarter and ($12.2M) for the year. The company ended the period with $6.1M in cash, not including $6.1M in net proceeds from a January 2019 equity financing. Interpace also has a $4M credit facility in place.”
According to TipRanks.com, Palomeque is a 1-star analyst with an average return of -1.6% and a 49.4% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as VistaGen Therapeutics, AzurRx BioPharma Inc, and Daré Bioscience Inc.
Currently, the analyst consensus on Interpace Diagnostics Group Inc is a Moderate Buy with an average price target of $3.50.
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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 $5.01 million.
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Interpace Diagnostics Group, Inc. is 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.
