Research Analysts Offer Predictions for CSTL FY2024 Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Research analysts at Leerink Partnrs increased their FY2024 EPS estimates for shares of Castle Biosciences in a research note issued on Monday, November 4th. Leerink Partnrs analyst P. Souda now anticipates that the company will earn $0.32 per share for the year, up from their previous estimate of ($0.69). The consensus estimate for Castle Biosciences’ current full-year earnings is ($0.58) per share. Leerink Partnrs also issued estimates for Castle Biosciences’ Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.44) EPS.

Several other research firms have also commented on CSTL. Scotiabank raised their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday. BTIG Research lifted their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stephens restated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, KeyCorp boosted their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $37.88.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $32.66 on Thursday. The stock has a market capitalization of $901.64 million, a price-to-earnings ratio of 163.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92. The business has a 50-day moving average of $30.78 and a 200 day moving average of $25.72. Castle Biosciences has a 12 month low of $16.20 and a 12 month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. The business had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same period last year, the business posted ($0.26) earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in shares of Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares during the period. Assetmark Inc. raised its position in Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Castle Biosciences by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after purchasing an additional 952 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Castle Biosciences during the 2nd quarter worth $218,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the transaction, the director now directly owns 8,550 shares of the company’s stock, valued at $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $30.27, for a total transaction of $29,846.22. Following the transaction, the insider now owns 93,636 shares of the company’s stock, valued at approximately $2,834,361.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now owns 8,550 shares in the company, valued at $227,857.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,694 shares of company stock valued at $563,497. Corporate insiders own 7.20% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.