Analysts expect that Biocept Inc (NASDAQ:BIOC) will post sales of $1.02 million for the current quarter, Zacks reports. Two analysts have made estimates for Biocept’s earnings, with the highest sales estimate coming in at $1.14 million and the lowest estimate coming in at $900,000.00. Biocept posted sales of $1.11 million during the same quarter last year, which suggests a negative year over year growth rate of 8.1%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, November 13th.
On average, analysts expect that Biocept will report full-year sales of $3.75 million for the current financial year, with estimates ranging from $3.48 million to $4.16 million. For the next fiscal year, analysts anticipate that the firm will report sales of $5.00 million, with estimates ranging from $4.99 million to $5.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Biocept.
Biocept (NASDAQ:BIOC) last released its earnings results on Tuesday, August 14th. The medical research company reported ($2.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.30) by $0.60. The firm had revenue of $0.82 million during the quarter, compared to the consensus estimate of $1.09 million. Biocept had a negative return on equity of 587.80% and a negative net margin of 642.49%.
BIOC has been the subject of a number of research analyst reports. ValuEngine upgraded Biocept from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Zacks Investment Research downgraded Biocept from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Finally, Dawson James reiterated a “buy” rating on shares of Biocept in a research report on Wednesday, October 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Biocept currently has an average rating of “Buy” and an average price target of $0.92.
A hedge fund recently raised its stake in Biocept stock. BlackRock Inc. grew its stake in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 794,302 shares of the medical research company’s stock after acquiring an additional 14,403 shares during the period. BlackRock Inc. owned about 34.99% of Biocept worth $159,000 at the end of the most recent reporting period.
BIOC opened at $1.89 on Friday. The company has a market capitalization of $4.41 million, a price-to-earnings ratio of -0.08 and a beta of 1.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.20 and a quick ratio of 1.08. Biocept has a 1-year low of $1.85 and a 1-year high of $36.00.
Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. The company's cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring in order to identify resistance mechanisms.
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