Biocept, Inc. (BIOC) Receives Average Rating of “Hold” from Brokerages
Shares of Biocept, Inc. (NASDAQ:BIOC) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $2.50.
BIOC has been the subject of a number of recent analyst reports. Zacks Investment Research raised Biocept from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a research report on Monday, May 1st. Westpark Capital reaffirmed an “outperform” rating on shares of Biocept in a research report on Thursday, August 3rd. Finally, ValuEngine raised Biocept from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th.
Shares of Biocept (BIOC) opened at 1.12 on Wednesday. The company’s market capitalization is $33.88 million. Biocept has a one year low of $0.74 and a one year high of $3.39. The firm has a 50-day moving average price of $1.37 and a 200-day moving average price of $1.67.
Biocept (NASDAQ:BIOC) last released its quarterly earnings results 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 business had revenue of $1.28 million for the quarter, compared to the consensus estimate of $1.23 million. Biocept had a negative net margin of 359.48% and a negative return on equity of 550.35%. Equities analysts forecast that Biocept will post ($0.79) earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in BIOC. Intellectus Partners LLC raised its position in shares of Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock valued at $271,000 after buying an additional 125,000 shares in the last quarter. WealthTrust Axiom LLC purchased a new position in shares of Biocept during the first quarter valued at about $298,000. Creative Planning raised its position in shares of Biocept by 64,679.8% in the second quarter. Creative Planning now owns 246,811 shares of the medical research company’s stock valued at $338,000 after buying an additional 246,430 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Biocept by 9.6% in the second quarter. Vanguard Group Inc. now owns 764,351 shares of the medical research company’s stock valued at $1,048,000 after buying an additional 66,746 shares in the last quarter. 15.27% of the stock is owned by hedge funds and other institutional investors.
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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