H.C. Wainwright Sticks to Their Buy Rating for HTG Molecular Diagnostics (HTGM)

By Ryan Adsit

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on HTG Molecular Diagnostics (HTGMResearch Report), with a price target of $8. The company’s shares closed yesterday at $2.48.

Selvaraju noted:

“Our price target is derived from a market value of the firm at $222M excluding debt. This includes a discounted cash flow analysis based asset value at $231M for the HTG EdgeSeq platform, with a 15% discount rate and 0% terminal growth rate.”

According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -23.7% and a 14.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Currently, the analyst consensus on HTG Molecular Diagnostics is a Strong Buy with an average price target of $7.10.

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The company has a one-year high of $5.83 and a one-year low of $1.74. Currently, HTG Molecular Diagnostics has an average volume of 477.2K.

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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.