Biocept Inc. (NASDAQ:BIOC) Receives Consensus Rating of “Buy” from Analysts
Biocept Inc. (NASDAQ:BIOC) has earned an average broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. Biocept’s rating score has declined by 25.6% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1-year consensus price objective of $4.50 for the company and are anticipating that the company will post ($0.57) EPS for the current quarter, according to Zacks. Zacks has also given Biocept an industry rank of 157 out of 265 based on the ratings given to related companies.
Several equities analysts have recently issued reports on BIOC shares. Feltl & Co. cut Biocept from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Biocept from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a report on Wednesday, July 13th. Finally, Rodman & Renshaw set a $2.50 target price on Biocept and gave the stock a “buy” rating in a report on Wednesday, August 31st.
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A hedge fund recently raised its stake in Biocept stock. Creative Planning raised its position in shares of Biocept Inc. (NASDAQ:BIOC) by 206.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,640 shares of the company’s stock after buying an additional 116,300 shares during the period. Creative Planning owned about 0.69% of Biocept worth $115,000 at the end of the most recent reporting period. Institutional investors own 4.80% of the company’s stock.
Biocept (NASDAQ:BIOC) traded down 4.14% during mid-day trading on Friday, reaching $1.39. The company’s stock had a trading volume of 48,950 shares. Biocept has a 1-year low of $1.26 and a 1-year high of $7.68. The firm has a 50 day moving average price of $1.70 and a 200-day moving average price of $2.32. The company’s market capitalization is $11.67 million.
Biocept (NASDAQ:BIOC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. Biocept had a negative return on equity of 764.73% and a negative net margin of 1,466.69%. On average, equities analysts predict that Biocept will post $0.40 EPS for the current fiscal year.
Biocept, Inc is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample.
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