Biocept (BIOC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Biocept (NASDAQ:BIOC) from a hold rating to a sell rating in a research report released on Tuesday morning.

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 stock. ValuEngine upgraded shares of Biocept from a hold rating to a buy rating in a report on Thursday, November 1st. Dawson James reiterated a buy rating on shares of Biocept in a report on Wednesday, October 3rd.

Shares of BIOC opened at $1.12 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.63 and a debt-to-equity ratio of 0.11. Biocept has a fifty-two week low of $1.08 and a fifty-two week high of $36.00.

Biocept (NASDAQ:BIOC) last announced its quarterly earnings data on Tuesday, November 13th. The medical research company reported ($2.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.71) by ($0.71). The business had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $1.02 million. Biocept had a negative return on equity of 456.20% and a negative net margin of 715.42%. Analysts predict that Biocept will post -9.05 earnings per share for the current year.

An institutional investor recently raised its position in Biocept stock. BlackRock Inc. grew its position in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

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.

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