HTG Molecular Diagnostics’ (HTGM) “Buy” Rating Reiterated at Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of HTG Molecular Diagnostics (NASDAQ:HTGM) in a research note published on Tuesday morning, reports. They currently have a $3.00 target price on the medical research company’s stock.

“We were pleased to host newer HTG CEO John Lubniewski and CFO Conference last week in Boston. Our key takeaways: (1) HTG is making a bigger push to develop and launch novel diagnostic test launches in breast and lung cancer; (2) HTG is not getting any credit in its stock price for strong 80%+ Y/Y growth in its base RUO profiling business; and (3) HTG has taken adverse lumps” because they haven’t converted a CDx yet (yet they have over 70 active global pharma programs). We reiterate our BUY rating and trim our PT to $3, which we would be inclined to raise should HTG hit” on one of its pharma collaborations. EdgeSeq Breast Total Lung.”,” Canaccord Genuity’s analyst commented.

HTGM has been the subject of several other research reports. Zacks Investment Research downgraded HTG Molecular Diagnostics from a hold rating to a sell rating in a report on Saturday, August 10th. ValuEngine upgraded HTG Molecular Diagnostics from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, HC Wainwright decreased their price target on HTG Molecular Diagnostics from $8.00 to $4.00 and set a buy rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. HTG Molecular Diagnostics has a consensus rating of Buy and an average target price of $4.80.

NASDAQ HTGM opened at $0.95 on Tuesday. The company has a market cap of $30.44 million, a price-to-earnings ratio of -1.58 and a beta of 1.55. HTG Molecular Diagnostics has a 52 week low of $0.93 and a 52 week high of $5.46. The business has a 50 day moving average price of $1.41 and a 200-day moving average price of $2.14. The company has a quick ratio of 3.34, a current ratio of 3.49 and a debt-to-equity ratio of 0.87.

HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.02). HTG Molecular Diagnostics had a negative return on equity of 95.77% and a negative net margin of 79.96%. The company had revenue of $5.80 million for the quarter, compared to the consensus estimate of $5.54 million. On average, equities research analysts anticipate that HTG Molecular Diagnostics will post -0.59 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in HTG Molecular Diagnostics during the fourth quarter worth $27,000. Cowen Prime Services LLC bought a new stake in HTG Molecular Diagnostics during the first quarter worth $50,000. Alambic Investment Management L.P. purchased a new position in HTG Molecular Diagnostics in the second quarter worth $38,000. Citadel Advisors LLC boosted its position in HTG Molecular Diagnostics by 153.9% in the second quarter. Citadel Advisors LLC now owns 38,525 shares of the medical research company’s stock worth $64,000 after purchasing an additional 23,351 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in HTG Molecular Diagnostics in the fourth quarter worth $151,000. Institutional investors and hedge funds own 44.62% of the company’s stock.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.

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