H.C. Wainwright Thinks HTG Molecular Diagnostics’ Stock is Going to Recover

By Austin Angelo

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on HTG Molecular Diagnostics (NASDAQ: HTGM) today and set a price target of $6. The company’s shares closed yesterday at $3.04, close to its 52-week high of $13.25.

Selvaraju said:

“We note that the launch of this new assay comes on schedule and expands the company’s existing menu following the launch of HTG EdgeSeq EGFR, KRAS and BRAF Mutation Assays for research use. Investors may recall that this assay was designed for retrospective gene expression profiling (GEP) to complement traditional immunohistochemistry (IHC) testing, allowing investigators to assess mRNA expression of large numbers of biomarkers—up to 470 mRNA targets in this case—when formalin-fixed, paraffin-embedded (FFPE) sample availability is limited. Importantly, small and minimally invasive tissue biopsies are the trend nowadays in diagnostics, and within this setting, EdgeSeq PATH Assay allows for a more comprehensive profiling than conventional IHC. This may potentially lead to new GEP-based diagnostic or prognostic tests in oncology and beyond, in our view.”

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -7.2% and a 36.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as RegeneRx Biopharmaceuticals Inc, Biospecifics Technologies Corp, and Synergy Pharmaceuticals Inc.

HTG Molecular Diagnostics has an analyst consensus of Moderate Buy, with a price target consensus of $5.75.

The company has a one year high of $13.25 and a one year low of $1.20. Currently, HTG Molecular Diagnostics has an average volume of 1.32M.

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HTG Molecular Diagnostics, Inc. provides molecular technology solutions. It offers products for miRNA, and mRNA measurement for translational research/medicine and molecular diagnostics. Its qNPA molecular technology platform detects changes in gene expression levels; especially from formalin-fixed, paraffin-embedded tissue and other biological sample types. It also offers pharma and diagnostics services. The company was founded by Bruce E. Seligmann in October 1997 and is headquartered in Tucson, AZ.