Needham & Company LLC Reiterates Buy Rating for Oncocyte (NASDAQ:IMDX)

Oncocyte (NASDAQ:IMDX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $9.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 110.77% from the company’s previous close.

Several other research firms also recently weighed in on IMDX. Wall Street Zen downgraded Oncocyte from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncocyte in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.50.

Oncocyte Stock Performance

IMDX opened at $4.27 on Tuesday. The stock has a market cap of $139.71 million, a price-to-earnings ratio of -2.87 and a beta of 1.79. Oncocyte has a one year low of $2.33 and a one year high of $8.51. The stock’s 50 day moving average price is $5.05 and its 200-day moving average price is $5.05.

Oncocyte (NASDAQ:IMDX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $0.24 million for the quarter.

Oncocyte Company Profile

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.