Maxim Group Analysts Give Biocept (NASDAQ:BIOC) a $4.00 Price Target

Maxim Group set a $4.00 price objective on Biocept (NASDAQ:BIOC – Get Rating) in a research report sent to investors on Monday morning, Stock Target Advisor reports.

A number of other research firms also recently commented on BIOC. TheStreet downgraded shares of Biocept from a c- rating to a d rating in a report on Wednesday, April 27th. StockNews.com began coverage on shares of Biocept in a report on Monday. They set a hold rating on the stock.

Shares of NASDAQ:BIOC opened at $0.96 on Monday. The company has a market cap of $16.27 million, a price-to-earnings ratio of -2.14 and a beta of 0.66. Biocept has a fifty-two week low of $0.96 and a fifty-two week high of $4.53. The firm’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $2.34. The company has a quick ratio of 3.15, a current ratio of 3.38 and a debt-to-equity ratio of 0.03.

Biocept (NASDAQ:BIOC – Get Rating) last released its quarterly earnings data on Monday, May 23rd. The medical research company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The company had revenue of $19.95 million for the quarter, compared to analysts’ expectations of $6.99 million. Biocept had a negative return on equity of 19.99% and a negative net margin of 11.26%. On average, research analysts forecast that Biocept will post -0.66 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Taylor & Morgan Wealth Management LLC acquired a new position in shares of Biocept in the fourth quarter valued at approximately $43,000. PDT Partners LLC acquired a new position in shares of Biocept in the fourth quarter valued at approximately $130,000. Bailard Inc. acquired a new position in shares of Biocept in the fourth quarter valued at approximately $152,000. Acadian Asset Management LLC acquired a new position in shares of Biocept in the fourth quarter valued at approximately $225,000. Finally, Renaissance Technologies LLC raised its position in shares of Biocept by 27.1% in the first quarter. Renaissance Technologies LLC now owns 116,400 shares of the medical research company’s stock valued at $270,000 after buying an additional 24,800 shares during the last quarter. Institutional investors own 13.52% of the company’s stock.

About Biocept (Get Rating)

Biocept, Inc, a molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell and circulating cell-free tumor DNA and RNA assays utilizing a standard blood sample. Its 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 to identify resistance mechanisms.

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