HTG Molecular Diagnostics (HTGM) Upgraded to “Hold” by Zacks Investment Research

HTG Molecular Diagnostics (NASDAQ:HTGM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, 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. “

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $7.00 price target on shares of HTG Molecular Diagnostics in a research note on Wednesday, February 20th. Canaccord Genuity reaffirmed a “buy” rating and set 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 given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $6.00.

HTGM opened at $2.35 on Friday. HTG Molecular Diagnostics has a fifty-two week low of $2.03 and a fifty-two week 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 stock has a market cap of $67.88 million, a PE ratio of -3.92 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 Zacks’ 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 firm had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $2.77 million. On average, research analysts forecast that HTG Molecular Diagnostics will post -0.62 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. acquired a new stake in HTG Molecular Diagnostics during the first quarter worth approximately $47,000. TD Asset Management Inc. grew its position in HTG Molecular Diagnostics by 4.9% during the first quarter. TD Asset Management Inc. now owns 98,164 shares of the medical research company’s stock worth $245,000 after buying an additional 4,600 shares in the last quarter. Cowen Prime Services LLC acquired a new stake in HTG Molecular Diagnostics during the first quarter worth approximately $50,000. Perkins Capital Management Inc. grew its position in HTG Molecular Diagnostics by 37.8% during the first quarter. Perkins Capital Management Inc. now owns 619,920 shares of the medical research company’s stock worth $1,550,000 after buying an additional 169,970 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in HTG Molecular Diagnostics by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 217,965 shares of the medical research company’s stock worth $553,000 after buying an additional 28,472 shares in the last quarter. 51.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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