OncoCyte (OCX) Receives a Buy from Needham


In a report released today, Michael Matson from Needham assigned a Buy rating to OncoCyte (OCX), with a price target of $8.00. The company’s shares closed last Tuesday at $5.25.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 16.7% and a 68.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for OncoCyte with a $9.00 average price target.

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Based on OncoCyte’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.12 million and GAAP net loss of $3.92 million. In comparison, last year the company earned revenue of $16K and had a GAAP net loss of $7.73 million.

Based on the recent corporate insider activity of 14 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.

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