Maxim Group Analysts Give Biocept (NASDAQ:BIOC) a $4.00 Price Target

Maxim Group set a $4.00 price target on Biocept (NASDAQ:BIOCGet Rating) in a research report released on Monday, Stock Target Advisor reports.

Other research analysts also recently issued research reports about the stock. StockNews.com initiated coverage on shares of Biocept in a research report on Monday. They set a hold rating for the company. TheStreet downgraded shares of Biocept from a c- rating to a d rating in a research report on Wednesday, April 27th.

Shares of BIOC opened at $0.96 on Monday. The firm has a market capitalization of $16.27 million, a PE ratio of -2.14 and a beta of 0.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.38 and a quick ratio of 3.15. Biocept has a 1-year low of $0.96 and a 1-year high of $4.53. The company’s fifty day moving average price is $1.47 and its 200-day moving average price is $2.34.

Biocept (NASDAQ:BIOCGet Rating) last posted its quarterly earnings results on Monday, May 23rd. The medical research company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Biocept had a negative net margin of 11.26% and a negative return on equity of 19.99%. The business had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $6.99 million. As a group, research analysts anticipate that Biocept will post -0.66 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Taylor & Morgan Wealth Management LLC boosted its position in shares of Biocept by 91.7% during the 1st quarter. Taylor & Morgan Wealth Management LLC now owns 23,000 shares of the medical research company’s stock worth $53,000 after purchasing an additional 11,000 shares during the period. Renaissance Technologies LLC lifted its holdings in Biocept by 27.1% during the 1st quarter. Renaissance Technologies LLC now owns 116,400 shares of the medical research company’s stock worth $270,000 after buying an additional 24,800 shares in the last quarter. PDT Partners LLC acquired a new stake in Biocept during the 4th quarter worth approximately $130,000. Bailard Inc. acquired a new stake in Biocept during the 4th quarter worth approximately $152,000. Finally, Acadian Asset Management LLC acquired a new stake in Biocept during the 4th quarter worth approximately $225,000. 13.52% of the stock is owned by hedge funds and other institutional investors.

About Biocept (Get Rating)

Biocept, Inc, a molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell and circulating cell-free tumor DNA and RNA assays utilizing a standard blood sample. Its 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 to identify resistance mechanisms.

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