Maxim Group Thinks Biocept Inc’s Stock is Going to Recover

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Biocept Inc (BIOCResearch Report), with a price target of $3. The company’s shares opened today at $1.06, close to its 52-week low of $0.66.

McCarthy observed:

“Biocept announced the launch of its new 12-gene breast cancer panel, the Target Selector Breast Panel. The panel is the second multigene panel (first was the and runs on the Thermo Fisher (TMO – NR) Ion Torrent NGS platform.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -19.6% and a 22.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Biocept Inc with a $3 average price target.

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The company has a one-year high of $12.15 and a one-year low of $0.66. Currently, Biocept Inc has an average volume of 4.34M.

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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.