Aegis Capital Corp. Reiterates Buy Rating, $10 PT on TrovaGene Following In-Line Revenue, Below-Estimates EPS

In a report published Friday, Aegis Capital Corp. analyst Raghuram Selvaraju reiterated a Buy rating and $10.00 price target on

. In the report, Aegis Capital Corp. noted, “Yesterday afternoon, following the market close, Trovagene reported financial results for the third quarter of 2013. Although the firm's revenues were in-line with our modest estimates, the loss per share was $0.25 vs. our estimate of $0.14. This was driven primarily by higher-than-projected G&A spending at $2.2mm in the quarter, as well as negative impact of $1.3mm from the change in fair value of warrants. We retain our prior updated revenue projections of $0.5mm in 2013 and $4.6mm in 2014. We are reiterating our Buy rating and 12-month price target of $10.00 per share.” TrovaGene closed on Thursday at $5.50.