Cancer Genetics Inc. (CGIX) Upgraded to “Buy” at Zacks Investment Research
Cancer Genetics Inc. (NASDAQ:CGIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $2.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 10.50% from the company’s current price.
According to Zacks, “Cancer Genetics, Inc. operates as a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. The company’s tests target cancers, including hematological, urogenital, and HPV-associated cancers. It also offers non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals as well as biopharma and biotech. Cancer Genetics, Inc. is headquartered in Rutherford, New Jersey. “
Other equities analysts have also recently issued research reports about the stock. Rodman & Renshaw began coverage on shares of Cancer Genetics in a research report on Monday, September 26th. They set a “buy” rating and a $6.00 target price for the company. HC Wainwright began coverage on shares of Cancer Genetics in a research report on Tuesday, September 27th. They set a “buy” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $7.25.
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Cancer Genetics (NASDAQ:CGIX) traded up 3.43% during trading on Tuesday, hitting $1.81. 130,555 shares of the company were exchanged. The company’s market capitalization is $29.18 million. Cancer Genetics has a 12 month low of $1.70 and a 12 month high of $8.51. The company has a 50-day moving average of $1.95 and a 200-day moving average of $2.19.
Cancer Genetics (NASDAQ:CGIX) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. The firm had revenue of $7 million for the quarter, compared to the consensus estimate of $6.50 million. Cancer Genetics had a negative net margin of 89.60% and a negative return on equity of 72.29%. The firm’s revenue was up 67.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. Analysts forecast that Cancer Genetics will post ($1.17) EPS for the current year.
In other news, Director John Pappajohn acquired 147,500 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was acquired at an average price of $2.16 per share, with a total value of $318,600.00. Following the completion of the transaction, the director now directly owns 2,162,387 shares in the company, valued at approximately $4,670,755.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 25.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Sabby Management LLC raised its position in Cancer Genetics by 145.5% in the second quarter. Sabby Management LLC now owns 199,580 shares of the company’s stock worth $397,000 after buying an additional 118,280 shares in the last quarter. Eagle Global Advisors LLC raised its position in Cancer Genetics by 69.3% in the second quarter. Eagle Global Advisors LLC now owns 84,320 shares of the company’s stock worth $168,000 after buying an additional 34,510 shares in the last quarter. Fairbanks Capital Management Inc. purchased a new position in Cancer Genetics during the second quarter worth $464,000. Vanguard Group Inc. raised its position in Cancer Genetics by 3.3% in the second quarter. Vanguard Group Inc. now owns 326,966 shares of the company’s stock worth $651,000 after buying an additional 10,328 shares in the last quarter. Finally, Perkins Capital Management Inc. raised its position in Cancer Genetics by 214.2% in the second quarter. Perkins Capital Management Inc. now owns 581,200 shares of the company’s stock worth $1,157,000 after buying an additional 396,250 shares in the last quarter. 9.65% of the stock is owned by institutional investors and hedge funds.
Cancer Genetics Company Profile
Cancer Genetics, Inc is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.
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