OpGen, Inc. (NASDAQ:OPGN) has been assigned a $1.00 target price by stock analysts at HC Wainwright in a research note issued on Wednesday, August 9th. The brokerage currently has a “buy” rating on the medical research company’s stock. HC Wainwright’s target price suggests a potential upside of 309.58% from the stock’s current price.
The analysts wrote, “We note that these results reflect the company’s ongoing efforts to reduce operating expenses. Of note, management expects a further decline in operating expenses by 25-30% in 2H 2017, as compared to 1H 2017. OpGen is in the process of consolidating its manufacturing footprint and prioritizing R&D spending to develop the Acuitas rapid test. Management indicated that the company would make efforts to maintain gross margins within the historical range of 40-60%, which would be a healthy level, in our view. Evidently, the company aims to be capital efficient, which may boost shareholder value in the near term.””
A number of other analysts have also recently issued reports on the company. Zacks Investment Research upgraded OpGen from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Dawson James restated a “buy” rating on shares of OpGen in a research report on Monday, June 19th.
Shares of OpGen (NASDAQ:OPGN) opened at 0.244154 on Wednesday. The firm’s market cap is $12.59 million. The firm has a 50-day moving average of $0.36 and a 200 day moving average of $0.79. OpGen has a 12 month low of $0.21 and a 12 month high of $3.10.
In related news, CFO Timothy C. Dec purchased 65,000 shares of the stock in a transaction on Tuesday, July 18th. The shares were purchased at an average cost of $0.40 per share, for a total transaction of $26,000.00. Following the completion of the transaction, the chief financial officer now directly owns 118,966 shares of the company’s stock, valued at approximately $47,586.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Jven Capital, Llc purchased 1,875,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was bought at an average price of $0.40 per share, for a total transaction of $750,000.00. The disclosure for this purchase can be found here. Insiders own 53.27% of the company’s stock.
An institutional investor recently raised its position in OpGen stock. Vanguard Group Inc. increased its position in shares of OpGen, Inc. (NASDAQ:OPGN) by 1.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 342,860 shares of the medical research company’s stock after buying an additional 5,500 shares during the period. Vanguard Group Inc. owned approximately 1.25% of OpGen worth $219,000 as of its most recent SEC filing. 9.20% of the stock is currently owned by hedge funds and other institutional investors.
OpGen Company Profile
OpGen, Inc (OpGen) is a precision medicine company using molecular diagnostics and informatics to combat infectious disease. The Company is engaged in developing molecular information solutions to combat infectious disease in global healthcare settings, helping to guide clinicians with information about life threatening infections, managing patient outcomes, and the spread of infections caused by multidrug-resistant microorganisms.
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