OncoCyte Co. (NYSEAMERICAN:OCX) Receives $6.60 Consensus Price Target from Analysts

OncoCyte Co. (NYSEAMERICAN:OCX) has been given an average rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $6.60.

Separately, Needham & Company LLC restated a “buy” rating and set a $8.00 price objective on shares of OncoCyte in a research report on Wednesday, June 16th.

OCX traded down $0.14 on Thursday, reaching $5.43. The company’s stock had a trading volume of 2,793 shares, compared to its average volume of 512,897. OncoCyte has a 1 year low of $1.15 and a 1 year high of $6.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49. The firm has a market cap of $496.63 million, a PE ratio of -14.47 and a beta of 1.89. The firm has a 50 day moving average of $2.27.

OncoCyte (NYSEAMERICAN:OCX) last posted its quarterly earnings data on Sunday, May 16th. The biotechnology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.05. OncoCyte had a negative net margin of 1,123.40% and a negative return on equity of 46.76%. The firm had revenue of $1.12 million for the quarter, compared to the consensus estimate of $0.91 million. Research analysts anticipate that OncoCyte will post -0.27 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in OCX. Pura Vida Investments LLC increased its stake in OncoCyte by 94.6% during the 1st quarter. Pura Vida Investments LLC now owns 12,223,953 shares of the biotechnology company’s stock valued at $63,442,000 after buying an additional 5,941,130 shares during the period. BlackRock Inc. boosted its stake in OncoCyte by 41.9% during the 1st quarter. BlackRock Inc. now owns 4,968,214 shares of the biotechnology company’s stock valued at $25,784,000 after purchasing an additional 1,466,183 shares in the last quarter. Orbimed Advisors LLC bought a new position in OncoCyte during the 1st quarter valued at $10,899,000. Schonfeld Strategic Advisors LLC raised its stake in shares of OncoCyte by 1,173.8% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 1,622,824 shares of the biotechnology company’s stock worth $8,423,000 after buying an additional 1,495,424 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of OncoCyte by 50.6% in the first quarter. Geode Capital Management LLC now owns 1,141,078 shares of the biotechnology company’s stock valued at $5,922,000 after buying an additional 383,317 shares during the period. Institutional investors own 60.64% of the company’s stock.

About OncoCyte

OncoCyte Corporation, a molecular diagnostics company, researches, develops, and commercializes proprietary laboratory-developed tests for the detection of cancer in the United States and internationally. The company offers DetermaRx, a molecular test for early stage adenocarcinoma of the lung; and DetermaIO, a proprietary gene expression assay.

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Analyst Recommendations for OncoCyte (NYSEAMERICAN:OCX)

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