UPDATE: Aegis Capital Initiates Coverage on TrovaGene with Buy Rating, $12 PT

In a report published Wednesday, Aegis Capital Corp. initiated coverage on TrovaGene (NASDAQ: TROV) with a Buy rating and $12.00 price target.Aegis Capital noted, “We are initiating coverage of TrovaGene, Inc., an emerging molecular diagnostics company, with a Buy rating and a 15-month price target of $12.00 per share. In our view, this firm has the most non-invasive technology platform in the diagnostics arena. TrovaGene's proprietary platform involves the use of transrenal nucleic acids, which are pieces of genetic material present in urine samples, to conduct screening for a wide array of conditions and disorders. The company is currently focused on developing an array of molecular diagnostics in the domain of oncology, which could have broad applicability across a range of different types of malignancies. In addition, TrovaGene owns its own clinical laboratory to enable the screening of samples in-house, and has demonstrated its ability to conduct fetal gender determination and human papillomavirus screening as well.”TrovaGene closed on Tuesday at $4.61.