Biocept, Inc. (BIOC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Biocept, Inc. (NASDAQ:BIOC) have received an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $2.50.
Several equities research analysts recently weighed in on BIOC shares. Zacks Investment Research cut Biocept from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. ValuEngine cut Biocept from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 8th. Finally, Westpark Capital restated an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd.
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Biocept (NASDAQ:BIOC) opened at 1.30 on Friday. Biocept has a 12-month low of $0.74 and a 12-month high of $3.39. The stock’s 50 day moving average is $1.28 and its 200 day moving average is $1.59. The firm’s market cap is $39.33 million.
Biocept (NASDAQ:BIOC) last posted its earnings results on Thursday, August 10th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $1.28 million for the quarter, compared to analysts’ expectations of $1.23 million. Biocept had a negative return on equity of 550.35% and a negative net margin of 359.48%. On average, equities research analysts expect that Biocept will post ($0.79) EPS for the current year.
A hedge fund recently raised its stake in Biocept stock. Creative Planning increased its holdings in shares of Biocept, Inc. (NASDAQ:BIOC) by 64,679.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,811 shares of the medical research company’s stock after purchasing an additional 246,430 shares during the quarter. Creative Planning owned approximately 0.93% of Biocept worth $338,000 at the end of the most recent quarter. 6.92% of the stock is owned by institutional investors.
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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