Cantor Fitzgerald Reiterates a Buy Rating on HTG Molecular Diagnostics (HTGM)

By Jason Carr

In a report released today, Jordan Abrams from Cantor Fitzgerald reiterated a Buy rating on HTG Molecular Diagnostics (HTGMResearch Report), with a price target of $7. The company’s shares opened today at $2.38, close to its 52-week low of $2.03.

Abrams commented:

“We reaffirm our OW rating and think HTG’s EdgeSeq offers an attractive workflow solution that addresses key challenges in many existing molecular profiling technologies on the market. We view RNA-based panels as well-positioned to capitalize on trends in biomarker development, including faster turnaround time, lower sample-volume requirement, and next-gen sequencing (NGS)- based testing. We think shares of HTG will be rewarded with consistent product and service revenue acceleration along with a demonstrated growing pipeline of exclusive revenue-generating PDPs.”

According to TipRanks.com, Abrams is ranked #3147 out of 5188 analysts.

HTG Molecular Diagnostics has an analyst consensus of Moderate Buy, with a price target consensus of $7.50.

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Based on HTG Molecular Diagnostics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.84 million. In comparison, last year the company had a GAAP net loss of $1.92 million.

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HTG Molecular Diagnostics, Inc. engages in the provision of molecular technology solutions that facilitates molecular profiling. Its customers include biopharmaceutical companies, academic research centers, and molecular testing laboratories. The company was founded by Bruce E. Seligmann in October 1997 and is headquartered in Tucson, AZ.