Chardan Capital Reaffirms Their Hold Rating on OncoCyte (OCX)

In a report released today, Keay Nakae from Chardan Capital reiterated a Hold rating on OncoCyte (OCXResearch Report), with a price target of $2.00. The company’s shares opened today at $3.23, close to its 52-week high of $3.51.

According to TipRanks.com, Nakae is a 4-star analyst with an average return of 7.7% and a 48.6% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Lineage Cell Therapeutics, and Emergent Biosolutions.

OncoCyte has an analyst consensus of Strong Buy, with a price target consensus of $5.92.

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Based on OncoCyte’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $16K and GAAP net loss of $7.73 million. In comparison, last year the company had a GAAP net loss of $3.86 million.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OCX in relation to earlier this year.

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OncoCyte Corp. is a pharmaceutical company. It is focused on the discovery, development and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company was founded in September 2009 and is headquartered in Alameda, CA.