Biocept (BIOC) Upgraded by ValuEngine to “Buy”

Biocept (NASDAQ:BIOC) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also recently issued reports on BIOC. Zacks Investment Research raised Biocept from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Dawson James reaffirmed a “buy” rating on shares of Biocept in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $0.92.

BIOC opened at $1.98 on Thursday. The firm has a market capitalization of $4.32 million, a P/E ratio of -0.08 and a beta of 1.82. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Biocept has a 52 week low of $1.89 and a 52 week high of $36.00.

Biocept (NASDAQ:BIOC) last released its earnings results on Tuesday, August 14th. The medical research company reported ($2.70) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.30) by $0.60. The business had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $1.09 million. Biocept had a negative return on equity of 587.80% and a negative net margin of 642.49%. As a group, sell-side analysts anticipate that Biocept will post -9.05 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Biocept stock. BlackRock Inc. grew its stake in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 794,302 shares of the medical research company’s stock after buying an additional 14,403 shares during the quarter. BlackRock Inc. owned 34.99% of Biocept worth $159,000 at the end of the most recent quarter.

About Biocept

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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