In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Interpace Diagnostics Group Inc (NASDAQ: IDXG), with a price target of $4. The company’s shares opened today at $1.56.
McCarthy commented:
“Interpace Diagnostics announced that it has received approval to launch its thyroid testing product, New York. Pennsylvania is final; NY is conditional (pending additional information). Interpace can sell its ThyGeNEXT/ThyraMIR combination test to physicians in both states while the company waits for full approval in NY State.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 15.5% and a 49.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Interpace Diagnostics Group Inc with a $3 average price target.
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Based on Interpace Diagnostics Group Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.92 million. In comparison, last year the company had a GAAP net loss of $6.31 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.
