Analysts Anticipate Biocept, Inc. (BIOC) Will Announce Quarterly Sales of $1.40 Million
Analysts forecast that Biocept, Inc. (NASDAQ:BIOC) will announce $1.40 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Biocept’s earnings, with the lowest sales estimate coming in at $1.39 million and the highest estimate coming in at $1.40 million. Biocept posted sales of $1.05 million in the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The firm is scheduled to announce its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Biocept will report full year sales of $1.40 million for the current fiscal year, with estimates ranging from $5.80 million to $6.60 million. For the next financial year, analysts expect that the business will report sales of $9.12 million per share, with estimates ranging from $7.00 million to $10.46 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Biocept.
Biocept (NASDAQ:BIOC) last issued its quarterly earnings data on Thursday, August 10th. The medical research company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by $0.01. Biocept had a negative return on equity of 550.35% and a negative net margin of 359.48%. The company had revenue of $1.28 million during the quarter, compared to analyst estimates of $1.23 million.
Several equities research analysts recently issued reports on the stock. Westpark Capital reissued an “outperform” rating on shares of Biocept in a research report on Thursday, August 3rd. ValuEngine raised shares of Biocept from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of Biocept from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.25.
An institutional investor recently raised its position in Biocept stock. Vanguard Group Inc. raised its holdings in shares of Biocept, Inc. (NASDAQ:BIOC) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 764,351 shares of the medical research company’s stock after buying an additional 66,746 shares during the period. Vanguard Group Inc. owned about 2.87% of Biocept worth $1,048,000 at the end of the most recent reporting period. Institutional investors own 6.92% of the company’s stock.
Biocept (NASDAQ:BIOC) opened at 1.41 on Friday. The firm’s market capitalization is $42.66 million. The stock has a 50 day moving average of $1.29 and a 200 day moving average of $1.61. Biocept has a one year low of $0.74 and a one year high of $3.39.
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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