Zacks Investment Research Upgrades Biocept (BIOC) to “Hold”
Biocept (NASDAQ:BIOC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Biocept, Inc. is a commercial stage oncology diagnostics company. It has developed technology platforms for capture and analysis of circulating tumor cells and circulating tumor DNA utilizing a standard blood sample to provide physicians. The company offers OncoCEE-BR (TM) test for breast cancer. Biocept, Inc. is headquartered in San Diego, California. “
Several other research firms have also issued reports on BIOC. ValuEngine lowered shares of Biocept from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Westpark Capital lowered shares of Biocept from an “outperform” rating to a “hold” rating in a report on Wednesday, May 23rd.
Biocept (NASDAQ:BIOC) last posted its quarterly earnings data on Tuesday, August 14th. The medical research company reported ($2.70) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.30) by $0.60. The business had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $1.09 million. Biocept had a negative return on equity of 587.80% and a negative net margin of 642.49%. analysts predict that Biocept will post -9.01 earnings per share for the current year.
An institutional investor recently raised its position in Biocept stock. BlackRock Inc. grew its holdings in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 794,302 shares of the medical research company’s stock after purchasing an additional 14,403 shares during the period. BlackRock Inc. owned approximately 34.99% of Biocept worth $159,000 as of its most recent SEC filing.
Biocept Company Profile
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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