HTG Molecular Diagnostics (HTGM) Given New $7.00 Price Target at Canaccord Genuity

HTG Molecular Diagnostics (NASDAQ:HTGM) had its target price hoisted by investment analysts at Canaccord Genuity from $5.00 to $7.00 in a research report issued on Friday. The firm currently has a “buy” rating on the medical research company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 56.60% from the stock’s previous close.

HTGM has been the topic of a number of other reports. HC Wainwright set a $6.00 price target on HTG Molecular Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note 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 given a buy rating to the company. The company 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 52 week low of $1.59 and a 52 week high of $13.25. The stock has a market capitalization of $140.30, a PE ratio of -2.30 and a beta of 1.43.

HTG Molecular Diagnostics (NASDAQ:HTGM) last issued its quarterly earnings results on Thursday, March 22nd. The medical research company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.15. The business had revenue of $7.90 million during the quarter, compared to analyst estimates of $7.05 million. research analysts anticipate that HTG Molecular Diagnostics will post -0.6 EPS for the current year.

A number of large investors have recently modified their holdings of HTGM. Vanguard Group Inc. boosted its stake in HTG Molecular Diagnostics by 38.9% in the 2nd quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock worth $359,000 after buying an additional 37,841 shares during the last quarter. Granahan Investment Management Inc. MA boosted its stake in HTG Molecular Diagnostics by 488.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 416,608 shares of the medical research company’s stock worth $708,000 after buying an additional 345,798 shares during the last quarter. Finally, Private Wealth Partners LLC acquired a new position in shares of HTG Molecular Diagnostics in the 4th quarter valued at about $710,000. 7.91% of the stock is currently owned by hedge funds and other 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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