H.C. Wainwright Remains a Buy on Interpace Diagnostics Group (IDXG)

By Ryan Adsit

H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Interpace Diagnostics Group (IDXGResearch Report) today and set a price target of $15.00. The company’s shares closed last Monday at $8.19.

According to TipRanks.com, Chen is a 3-star analyst with an average return of 3.2% and a 51.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, EyePoint Pharmaceuticals, and Stealth Biotherapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Interpace Diagnostics Group with a $6.33 average price target, a -19.9% downside from current levels. In a report issued on January 15, Oppenheimer also assigned a Buy rating to the stock with a $2.00 price target.

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Based on Interpace Diagnostics Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.36 million. In comparison, last year the company had a GAAP net loss of $4.04 million.

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Interpace Biosciences, Inc. operates as an bioinformatics company, which engages in the development and commercialization of molecular diagnostic test and pathology services. It offers PancraGEN, a pancreatic cyst and pancreaticobiliary solid lesion molecular test that can aid in pancreatic cyst diagnosis and pancreatic cancer risk assessment; ThyGenX and PathFinderTG which assesses thyroid nodules for risk of malignancy; and ThyraMIR, which assesses thyroid nodules for risk of malignancy utilizing a proprietary gene expression assay. The company was founded by John P. Dugan in 1987 and is headquartered in Parsippany, NJ.