Zacks Investment Research Upgrades Biocept (BIOC) to Hold
Zacks Investment Research upgraded shares of Biocept (NASDAQ:BIOC) from a sell rating to a hold rating in a report issued on Tuesday.
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. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded Biocept from a strong sell rating to a sell rating in a report on Wednesday, May 2nd. Westpark Capital cut Biocept from an outperform rating to a hold rating in a report on Wednesday, May 23rd.
Biocept (NASDAQ:BIOC) last issued its quarterly earnings data on Tuesday, August 14th. The medical research company reported ($2.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.30) by $0.60. Biocept had a negative return on equity of 445.14% and a negative net margin of 561.47%. The company had revenue of $0.82 million during the quarter, compared to analysts’ expectations of $1.09 million. sell-side analysts predict that Biocept will post -9.01 EPS for the current year.
An institutional investor recently raised its position in Biocept stock. BlackRock Inc. raised its position in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 794,302 shares of the medical research company’s stock after acquiring an additional 14,403 shares during the period. BlackRock Inc. owned approximately 34.99% of Biocept worth $159,000 at the end of the most recent quarter.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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