In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Interpace Diagnostics Group Inc (NASDAQ: IDXG), with a price target of $3. The company’s shares closed yesterday at $0.90, close to its 52-week low of $0.72.
Selvaraju noted:
“We note that the company has incorporated accrual accounting since the beginning of 2018, and cash receipts during the course of 1Q18 was $4.4M. In our view, Interpace has demonstrated solid growth in test volume and revenue with its proprietary laboratory developed tests (LDTs), primarily the endocrine franchise (ThyGenX + ThyraMIR for thyroid nodules) and the gastrointestinal franchise (PancraGEN for pancreatic cysts). We believe the company’s gross margins could stay at around 50%, and new clients and businesses could be obtained with the pending commercial launch of ThyGeNEXT. In addition, further enhancement in reimbursement coverage under commercial payors should accelerate market adoption of these products. Our projected total revenue in 2018 is currently $19.6M, reflecting 23% YoY growth. In the wake of this update, we reiterate our Buy rating and $3 price target.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.8% and a 40.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on Interpace Diagnostics Group Inc is Moderate Buy and the average price target is $3, representing a 234.6% upside.
In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $3 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $2.65 and a one-year low of $0.72. Currently, Interpace Diagnostics Group Inc has an average volume of 442.9K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on IDXG:
