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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 $3. The company’s shares opened today at $0.95, close to its 52-week low of $0.72.
McCarthy said:
“Interpace reported 1Q18 with $4.8M in revenues, up 10% sequentially and beating the consensus estimate of $4.3M. The company reported a net loss of $3.2M and $12.6M in cash on the balance sheet.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 4.1% and a 44.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on Interpace Diagnostics Group Inc is Moderate Buy and the average price target is $3, representing a 216.1% upside.
In a report issued on May 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $3 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 $5.01 million. In comparison, last year the company had a net profit of $2.41 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.
