HTG Molecular Diagnostics (HTGM) Receives “Buy” Rating from HC Wainwright

HTG Molecular Diagnostics (NASDAQ:HTGM)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Friday, MarketBeat.com reports. They currently have a $7.00 target price on the medical research company’s stock. HC Wainwright’s price target would indicate a potential upside of 56.60% from the company’s current price.

Other analysts have also issued reports about the stock. Canaccord Genuity upped their price target on shares of HTG Molecular Diagnostics to $5.00 in a research report on Friday, January 5th. Zacks Investment Research raised shares of HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. HTG Molecular Diagnostics presently has an average rating of “Hold” and a consensus target price of $6.56.

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Shares of HTG Molecular Diagnostics (NASDAQ:HTGM) opened at $4.47 on Friday. HTG Molecular Diagnostics has a 1 year low of $1.59 and a 1 year high of $13.25. The stock has a market cap of $140.30, a price-to-earnings ratio of -2.30 and a beta of 1.43.

HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its quarterly earnings results on Thursday, March 22nd. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.15. The firm had revenue of $7.90 million for the quarter, compared to the consensus estimate of $7.05 million. equities analysts predict that HTG Molecular Diagnostics will post -0.6 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of HTG Molecular Diagnostics by 38.9% in the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock valued at $359,000 after purchasing an additional 37,841 shares during the period. Granahan Investment Management Inc. MA raised its position in shares of HTG Molecular Diagnostics by 488.3% in the third quarter. Granahan Investment Management Inc. MA now owns 416,608 shares of the medical research company’s stock valued at $708,000 after purchasing an additional 345,798 shares during the period. Finally, Private Wealth Partners LLC bought a new position in shares of HTG Molecular Diagnostics in the fourth quarter valued at about $710,000. 7.91% of the stock is currently owned by institutional investors.

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About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.

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