Interpace Diagnostics Group (NASDAQ:IDXG)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a note issued to investors on Thursday. They presently have a $3.00 price objective on the business services provider’s stock. HC Wainwright’s price target indicates a potential upside of 111.27% from the stock’s current price.
The analysts wrote, “Our price target is derived from a market value of the firm at $115M, which includes a discounted cash flow analysis based asset value for the company’s three commercialized laboratory- developed tests (LDTs), with a 15% discount rate and a 2% terminal growth rate.””
Other research analysts have also recently issued reports about the stock. Maxim Group reiterated a “buy” rating and set a $4.00 price objective on shares of Interpace Diagnostics Group in a report on Monday, September 24th. ValuEngine upgraded shares of Interpace Diagnostics Group from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Dawson James began coverage on shares of Interpace Diagnostics Group in a report on Wednesday, October 17th. They set a “buy” rating and a $4.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Interpace Diagnostics Group from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, August 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $3.17.
Interpace Diagnostics Group (NASDAQ:IDXG) last issued its quarterly earnings data on Thursday, August 9th. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $5.50 million during the quarter, compared to analysts’ expectations of $4.80 million. Interpace Diagnostics Group had a negative net margin of 71.14% and a negative return on equity of 34.58%. On average, research analysts forecast that Interpace Diagnostics Group will post -0.31 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in shares of Interpace Diagnostics Group during the third quarter valued at about $194,000. Essex Investment Management Co. LLC bought a new position in shares of Interpace Diagnostics Group during the third quarter valued at about $465,000. Finally, Perkins Capital Management Inc. bought a new position in shares of Interpace Diagnostics Group during the third quarter valued at about $983,000. 15.59% of the stock is currently owned by institutional investors.
About Interpace Diagnostics Group
Interpace Diagnostics Group, Inc develops and commercializes molecular diagnostic tests to detect genetic and other molecular alterations associated with gastrointestinal and endocrine cancers. It offers PancraGEN, a pancreatic cyst and pancreaticobiliary solid lesion molecular test that helps physicians better assess risk of pancreaticobiliary cancers using its proprietary PathFinder platform; ThyGenX, an oncogenic mutation panel that helps identify malignant thyroid nodules; and ThyraMIR, an microRNA gene expression assay that helps to classify risk of cancer in thyroid nodules.
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