Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) Price Target at $85.00

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given a consensus rating of “Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.50.

CSTL has been the topic of several research reports. Zacks Investment Research raised Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Monday, May 10th. Canaccord Genuity upped their price target on Castle Biosciences from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, January 26th. KeyCorp increased their price target on Castle Biosciences from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 3rd. Robert W. Baird reissued a “buy” rating and issued a $73.00 price target on shares of Castle Biosciences in a research note on Thursday. Finally, Lake Street Capital started coverage on Castle Biosciences in a research note on Thursday, May 6th. They issued a “buy” rating and a $94.00 price target for the company.

In other news, Director Daniel Bradbury sold 7,500 shares of the company’s stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $79.63, for a total transaction of $597,225.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek J. Maetzold sold 3,333 shares of the company’s stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $50.71, for a total value of $169,016.43. Following the sale, the insider now directly owns 558,466 shares of the company’s stock, valued at $28,319,810.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 386,454 shares of company stock valued at $25,737,566. Insiders own 39.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its stake in Castle Biosciences by 25.6% in the 1st quarter. ARK Investment Management LLC now owns 2,597,288 shares of the company’s stock worth $177,810,000 after acquiring an additional 528,696 shares in the last quarter. Wasatch Advisors Inc. increased its position in Castle Biosciences by 14.0% in the 1st quarter. Wasatch Advisors Inc. now owns 2,353,479 shares of the company’s stock worth $161,119,000 after purchasing an additional 288,648 shares during the last quarter. BlackRock Inc. increased its position in Castle Biosciences by 19.5% in the 1st quarter. BlackRock Inc. now owns 1,363,836 shares of the company’s stock worth $93,369,000 after purchasing an additional 222,089 shares during the last quarter. Pembroke Management LTD increased its position in Castle Biosciences by 77.2% in the 1st quarter. Pembroke Management LTD now owns 461,222 shares of the company’s stock worth $31,575,000 after purchasing an additional 200,976 shares during the last quarter. Finally, GW&K Investment Management LLC increased its position in Castle Biosciences by 353.2% in the 4th quarter. GW&K Investment Management LLC now owns 452,391 shares of the company’s stock worth $30,378,000 after purchasing an additional 352,568 shares during the last quarter. 66.42% of the stock is owned by hedge funds and other institutional investors.

Shares of CSTL traded up $5.10 during trading on Tuesday, reaching $55.17. The company’s stock had a trading volume of 336,889 shares, compared to its average volume of 296,855. The company has a fifty day moving average of $65.35 and a two-hundred day moving average of $66.59. Castle Biosciences has a twelve month low of $34.72 and a twelve month high of $107.69. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -324.51 and a beta of 0.46. The company has a quick ratio of 6.59, a current ratio of 6.65 and a debt-to-equity ratio of 0.07.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Sunday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The business had revenue of $22.81 million for the quarter, compared to analyst estimates of $16.66 million. Castle Biosciences had a negative return on equity of 2.69% and a negative net margin of 5.30%. The business’s revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. As a group, equities analysts forecast that Castle Biosciences will post -0.4 EPS for the current fiscal year.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a commercial-stage dermatological cancer company, focuses to provide diagnostic and prognostic solutions for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify high-risk patients with stage I and II melanomas based on biological information from 31 genes within their tumor tissue.

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Analyst Recommendations for Castle Biosciences (NASDAQ:CSTL)

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