HTG Molecular Diagnostics (HTGM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a sell rating to a hold rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “

Several other research firms have also recently weighed in on HTGM. Cantor Fitzgerald restated a buy rating and issued a $7.00 price target on shares of HTG Molecular Diagnostics in a research note on Wednesday, February 20th. Canaccord Genuity restated a buy rating and issued a $5.00 price target on shares of HTG Molecular Diagnostics in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $6.00.

HTGM stock opened at $2.34 on Friday. HTG Molecular Diagnostics has a 1-year low of $2.03 and a 1-year high of $5.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.30 and a quick ratio of 6.05. The firm has a market capitalization of $66.16 million, a PE ratio of -3.90 and a beta of 1.80.

HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.02). HTG Molecular Diagnostics had a negative return on equity of 75.50% and a negative net margin of 80.03%. The business had revenue of $3.20 million during the quarter, compared to analysts’ expectations of $2.77 million. As a group, research analysts anticipate that HTG Molecular Diagnostics will post -0.62 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in HTG Molecular Diagnostics by 152.3% during the fourth quarter. Acadian Asset Management LLC now owns 227,407 shares of the medical research company’s stock worth $577,000 after purchasing an additional 137,276 shares during the period. BlackRock Inc. boosted its position in HTG Molecular Diagnostics by 16.4% during the fourth quarter. BlackRock Inc. now owns 88,565 shares of the medical research company’s stock worth $225,000 after purchasing an additional 12,448 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in HTG Molecular Diagnostics during the fourth quarter worth $29,000. Kalos Management Inc. boosted its position in HTG Molecular Diagnostics by 6.5% during the fourth quarter. Kalos Management Inc. now owns 74,420 shares of the medical research company’s stock worth $179,000 after purchasing an additional 4,520 shares during the period. Finally, Stonepine Capital Management LLC boosted its position in HTG Molecular Diagnostics by 399.6% during the fourth quarter. Stonepine Capital Management LLC now owns 2,675,889 shares of the medical research company’s stock worth $6,797,000 after purchasing an additional 2,140,299 shares during the period. Institutional investors own 51.06% of the company’s stock.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.

See Also: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Get a free copy of the Zacks research report on HTG Molecular Diagnostics (HTGM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for HTG Molecular Diagnostics (NASDAQ:HTGM)

Receive News & Ratings for HTG Molecular Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HTG Molecular Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.