Biocept (BIOC) Rating Increased to Buy at Zacks Investment Research

Biocept (NASDAQ:BIOC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $0.25 price target on the medical research company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 25.06% from the company’s current price.

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 recently weighed in on BIOC. Westpark Capital reissued an “outperform” rating and issued a $1.00 price target on shares of Biocept in a report on Wednesday, April 4th. ValuEngine raised shares of Biocept from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd.

Biocept stock opened at $0.20 on Wednesday. The stock has a market capitalization of $14.97 million, a price-to-earnings ratio of -0.25 and a beta of 1.81. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 0.89. Biocept has a twelve month low of $0.17 and a twelve month high of $0.20.

Biocept (NASDAQ:BIOC) last released its quarterly earnings results on Tuesday, May 15th. The medical research company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The company had revenue of $0.81 million during the quarter, compared to the consensus estimate of $1.21 million. Biocept had a negative net margin of 561.47% and a negative return on equity of 558.19%. equities analysts forecast that Biocept will post -0.28 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Biocept stock. Sabby Management LLC bought a new position in shares of Biocept (NASDAQ:BIOC) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 962,265 shares of the medical research company’s stock, valued at approximately $668,000. Sabby Management LLC owned 1.51% of Biocept at the end of the most recent quarter. 10.15% of the stock is owned by hedge funds and other institutional investors.

About Biocept

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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