Biocept, Inc. (BIOC) Expected to Post Quarterly Sales of $1.40 Million
Brokerages expect Biocept, Inc. (NASDAQ:BIOC) to report $1.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Biocept’s earnings. The highest sales estimate is $1.40 million and the lowest is $1.39 million. Biocept posted sales of $1.05 million in the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Biocept will report full-year sales of $1.40 million for the current year, with estimates ranging from $5.80 million to $5.83 million. For the next fiscal year, analysts anticipate that the company will report sales of $8.73 million per share, with estimates ranging from $7.00 million to $10.46 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Biocept.
Biocept (NASDAQ:BIOC) last posted its quarterly earnings data on Thursday, August 10th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.01. The firm had revenue of $1.28 million for the quarter, compared to analysts’ expectations of $1.23 million. Biocept had a negative net margin of 359.48% and a negative return on equity of 550.35%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Biocept from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research note on Tuesday, May 16th. ValuEngine lowered Biocept from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 8th. Finally, Westpark Capital reiterated an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Biocept currently has a consensus rating of “Hold” and an average target price of $2.31.
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Shares of Biocept (NASDAQ:BIOC) opened at 1.20 on Monday. The stock’s market cap is $36.30 million. The company’s 50-day moving average price is $1.38 and its 200-day moving average price is $1.67. Biocept has a 52-week low of $0.74 and a 52-week high of $3.39.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Biocept by 9.6% in the second quarter. Vanguard Group Inc. now owns 764,351 shares of the medical research company’s stock worth $1,048,000 after buying an additional 66,746 shares during the last quarter. Creative Planning raised its position in Biocept by 64,679.8% in the second quarter. Creative Planning now owns 246,811 shares of the medical research company’s stock worth $338,000 after buying an additional 246,430 shares during the last quarter. Intellectus Partners LLC raised its position in Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock worth $271,000 after buying an additional 125,000 shares during the last quarter. Finally, WealthTrust Axiom LLC bought a new position in Biocept during the first quarter worth $298,000. Institutional investors and hedge funds own 15.27% of the company’s stock.
Biocept Company Profile
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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