Biocept (BIOC) Receives a Buy from Maxim Group

Maxim Group analyst Jason McCarthy assigned a Buy rating to Biocept (BIOCResearch Report) yesterday and set a price target of $1.00. The company’s shares closed last Monday at $0.43.

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.2% and a 45.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Interpace Diagnostics Group, and SELLAS Life Sciences Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Biocept with a $1.00 average price target.

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Based on Biocept’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.45 million and GAAP net loss of $8.34 million. In comparison, last year the company earned revenue of $1.02 million and had a GAAP net loss of $5.92 million.

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Biocept, Inc. is an oncology laboratory service company, which focuses on the development and marketing of novel laboratory products in the detection of rare cells to include circulating tumor cells. It develops and commercializes proprietary circulating tumor cell and circulating tumor DNA tests utilizing a standard blood sample. The company utilizes cell enrichment and extraction technology for the detection and analysis of circulating tumor DNA tests. It also offers services to other laboratory testing providers, academic institutions, research organizations, biopharmaceutical companies and clinical trial support and specific oncogenic alterations. Biocept was founded on May 12, 1997 and is headquartered in San Diego, CA.