Zacks Investment Research upgraded shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a hold rating to a buy rating in a report issued on Thursday morning. The firm currently has $3.00 price objective on the medical research company’s stock.

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. “

Other analysts have also recently issued reports about the stock. HC Wainwright reissued a buy rating and issued a $7.00 price objective on shares of HTG Molecular Diagnostics in a research note on Friday, September 28th. ValuEngine cut shares of HTG Molecular Diagnostics from a strong-buy rating to a buy rating in a research note on Thursday, October 11th. Cantor Fitzgerald reiterated a buy rating and issued a $7.00 price target on shares of HTG Molecular Diagnostics in a research note on Friday, November 9th. Finally, Craig Hallum initiated coverage on HTG Molecular Diagnostics in a research note on Monday, November 12th. They issued a buy rating and a $8.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. HTG Molecular Diagnostics presently has a consensus rating of Buy and an average target price of $6.60.

HTGM traded down $0.01 during midday trading on Thursday, reaching $2.50. The company had a trading volume of 163,700 shares, compared to its average volume of 195,438. The stock has a market cap of $73.80 million, a price-to-earnings ratio of -1.40 and a beta of 2.20. HTG Molecular Diagnostics has a 1 year low of $2.13 and a 1 year high of $5.83. The company has a quick ratio of 6.93, a current ratio of 7.13 and a debt-to-equity ratio of 0.42.

HTG Molecular Diagnostics (NASDAQ:HTGM) last released its earnings results on Thursday, November 8th. The medical research company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. The company had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.14 million. HTG Molecular Diagnostics had a negative net margin of 74.94% and a negative return on equity of 83.42%. On average, equities analysts anticipate that HTG Molecular Diagnostics will post -0.72 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Symmetry Peak Management LLC purchased a new stake in HTG Molecular Diagnostics during the 3rd quarter valued at approximately $429,000. Virtu Financial LLC purchased a new position in HTG Molecular Diagnostics during the third quarter valued at $215,000. Granite Point Capital Management L.P. purchased a new position in HTG Molecular Diagnostics during the third quarter valued at $1,010,000. FMR LLC grew its stake in HTG Molecular Diagnostics by 2.9% during the third quarter. FMR LLC now owns 3,588,045 shares of the medical research company’s stock valued at $18,120,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in HTG Molecular Diagnostics during the third quarter valued at $1,089,000. 46.55% of the stock is owned by institutional investors and hedge funds.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets.

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Analyst Recommendations for HTG Molecular Diagnostics (NASDAQ:HTGM)

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