Cancer Genetics Receives a Hold from Maxim Group


Maxim Group analyst Jason McCarthy maintained a Hold rating on Cancer Genetics (NASDAQ: CGIX) today. The company’s shares closed yesterday at $0.93, close to its 52-week low of $0.82.

McCarthy commented:

“Cancer Genetics reported total revenue of $7.7M, below our estimate of $8.2M and consensus of $9.2M. Operating expenses came in at $7.5M and net loss was $4.5M. CGIX ended the period with $4M in cash and as such, we expect the company will need to raise capital. We maintain our Hold rating.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 4.1% and a 44.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Cancer Genetics has an analyst consensus of Hold.

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Based on Cancer Genetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $7.9 million. In comparison, last year the company had a GAAP net loss of $9.58 million.

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Cancer Genetics, Inc. is an early-stage diagnostics company that engages in the development and commercializes proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. Its developments include DNA-FISH Probes, CGH Microarrays and next-generation sequencing treatments. The company was founded by Raju S. K.

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