Maxim Group analyst Jason McCarthy initiated coverage with a Buy rating on Biocept Inc (BIOC) today and set a price target of $3. The company’s shares closed yesterday at $1.03, close to its 52-week low of $0.66.
McCarthy wrote:
“We are initiating coverage of Buy rating and $3 price target. Biocept’s Target Selector is a liquid biopsy platform which, in addition to providing actionable data based on circulating tumor DNA (ctDNA) analysis, incorporates circulating tumor cell (CTC) analysis which differentiates the company in an increasingly ‘crowded’ liquid biopsy space.”
According to TipRanks.com, McCarthy has 0 stars on 0-5 star ranking scale with an average return of -3.9% and a 34.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Actinium Pharmaceuticals.
Biocept Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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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 2.67M.
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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.
