OncoCyte (OCX) Gets a Buy Rating from Needham
Needham analyst Stephen Unger reiterated a Buy rating on OncoCyte (OCX) today and set a price target of $2.00. The company’s shares closed last Tuesday at $1.49, close to its 52-week low of $1.15.
According to TipRanks.com, Unger is a 5-star analyst with an average return of 32.4% and a 77.4% success rate. Unger covers the Healthcare sector, focusing on stocks such as Myriad Genetics, Thermo Fisher, and PerkinElmer.
Currently, the analyst consensus on OncoCyte is a Moderate Buy with an average price target of $3.33.
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Based on OncoCyte’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $143K and GAAP net loss of $9.11 million. In comparison, last year the company had a GAAP net loss of $5.38 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OCX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
OncoCyte Corp. is a pharmaceutical company. It is focused on the discovery, development and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company was founded in September 2009 and is headquartered in Alameda, CA.