Biocept (BIOC) Stock Rating Lowered by Zacks Investment Research
Biocept (NASDAQ:BIOC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
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. “
Separately, ValuEngine raised shares of Biocept from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th.
Biocept (NASDAQ:BIOC) last posted its quarterly earnings results on Tuesday, August 14th. The medical research company reported ($2.70) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.30) by $0.60. Biocept had a negative return on equity of 587.80% and a negative net margin of 642.49%. The business had revenue of $0.82 million during the quarter, compared to the consensus estimate of $1.09 million. analysts predict that Biocept will post -9.01 EPS for the current year.
A hedge fund recently raised its stake in Biocept stock. BlackRock Inc. boosted its holdings in Biocept Inc (NASDAQ:BIOC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 794,302 shares of the medical research company’s stock after acquiring an additional 14,403 shares during the period. BlackRock Inc. owned about 34.99% of Biocept worth $159,000 at the end of the most recent quarter.
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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