Oppenheimer Analysts Reduce Earnings Estimates for Interpace Diagnostics Group Inc (NASDAQ:IDXG)

Interpace Diagnostics Group Inc (NASDAQ:IDXG) – Research analysts at Oppenheimer reduced their FY2019 earnings per share estimates for shares of Interpace Diagnostics Group in a report released on Thursday, November 14th. Oppenheimer analyst K. Degeeter now anticipates that the business services provider will post earnings per share of ($0.41) for the year, down from their prior forecast of ($0.26). Oppenheimer currently has a “Outperform” rating and a $3.00 target price on the stock. Oppenheimer also issued estimates for Interpace Diagnostics Group’s Q4 2019 earnings at ($0.05) EPS, Q1 2020 earnings at ($0.03) EPS, FY2020 earnings at ($0.09) EPS and FY2021 earnings at ($0.08) EPS.

Interpace Diagnostics Group (NASDAQ:IDXG) last released its quarterly earnings data on Wednesday, November 13th. The business services provider reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $7.73 million for the quarter, compared to the consensus estimate of $10.00 million. Interpace Diagnostics Group had a negative net margin of 77.55% and a negative return on equity of 54.25%.

A number of other research firms also recently commented on IDXG. HC Wainwright reissued a “buy” rating and set a $2.00 price objective on shares of Interpace Diagnostics Group in a report on Thursday, November 14th. Maxim Group set a $2.00 price objective on shares of Interpace Diagnostics Group and gave the stock a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $2.33.

IDXG stock opened at $0.65 on Monday. The company has a market cap of $26.31 million, a P/E ratio of -1.51 and a beta of 2.34. Interpace Diagnostics Group has a 52 week low of $0.62 and a 52 week high of $1.22. The company’s 50-day moving average price is $0.78 and its 200 day moving average price is $0.76. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stonepine Capital Management LLC lifted its holdings in shares of Interpace Diagnostics Group by 22.3% in the second quarter. Stonepine Capital Management LLC now owns 1,753,184 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 319,154 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Interpace Diagnostics Group in the second quarter valued at about $468,000. Perkins Capital Management Inc. lifted its holdings in shares of Interpace Diagnostics Group by 22.5% in the third quarter. Perkins Capital Management Inc. now owns 2,360,385 shares of the business services provider’s stock valued at $1,876,000 after purchasing an additional 433,135 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Interpace Diagnostics Group by 98.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,750 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 22,150 shares in the last quarter. 20.13% of the stock is currently owned by institutional investors.

Interpace Diagnostics Group Company Profile

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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Earnings History and Estimates for Interpace Diagnostics Group (NASDAQ:IDXG)

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