Cantor Fitzgerald Remains a Buy on HTG Molecular Diagnostics (HTGM)

By Jason Carr

Cantor Fitzgerald analyst Jordan Abrams maintained a Buy rating on HTG Molecular Diagnostics (HTGMResearch Report) today and set a price target of $7. The company’s shares opened today at $2.33, close to its 52-week low of $2.13.

Abrams observed:

“We reaffirm our OW rating on HTGM. We 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 #3145 out of 5141 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for HTG Molecular Diagnostics with a $7.13 average price target, which is a 206.0% upside from current levels. In a report issued on January 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $8 price target.

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The company has a one-year high of $5.83 and a one-year low of $2.13. Currently, HTG Molecular Diagnostics has an average volume of 319.6K.

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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.