Brokerages Expect Castle Biosciences, Inc. (NASDAQ:CSTL) Will Post Quarterly Sales of $28.60 Million

Wall Street analysts expect that Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) will report $28.60 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Castle Biosciences’ earnings, with the lowest sales estimate coming in at $28.59 million and the highest estimate coming in at $28.60 million. Castle Biosciences reported sales of $22.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.7%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Castle Biosciences will report full year sales of $116.80 million for the current fiscal year. For the next financial year, analysts forecast that the company will post sales of $154.38 million, with estimates ranging from $153.75 million to $155.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Castle Biosciences.

Castle Biosciences (NASDAQ:CSTL – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.26). Castle Biosciences had a negative net margin of 33.26% and a negative return on equity of 7.49%. During the same quarter in the prior year, the company earned ($0.17) EPS.

Several research firms have recently commented on CSTL. Lake Street Capital lowered their price objective on shares of Castle Biosciences from $94.00 to $63.00 in a research note on Tuesday, March 1st. Canaccord Genuity Group cut their price objective on Castle Biosciences from $80.00 to $65.00 in a report on Tuesday. Robert W. Baird cut their price objective on Castle Biosciences from $50.00 to $44.00 in a report on Tuesday. Canaccord Genuity Group cut their price objective on Castle Biosciences from $94.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. Finally, Zacks Investment Research lowered Castle Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.57.

In other Castle Biosciences news, Director Daniel Bradbury sold 8,852 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $39.02, for a total transaction of $345,405.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 26,556 shares of company stock worth $1,084,813 in the last 90 days. Company insiders own 15.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of CSTL. US Bancorp DE lifted its position in shares of Castle Biosciences by 28.9% in the first quarter. US Bancorp DE now owns 16,468 shares of the company’s stock valued at $739,000 after acquiring an additional 3,694 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Castle Biosciences by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 101,886 shares of the company’s stock valued at $4,570,000 after purchasing an additional 14,658 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Castle Biosciences by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 24,324 shares of the company’s stock valued at $1,091,000 after purchasing an additional 754 shares during the last quarter. Advisors Capital Management LLC increased its holdings in shares of Castle Biosciences by 3.6% in the first quarter. Advisors Capital Management LLC now owns 17,630 shares of the company’s stock valued at $791,000 after purchasing an additional 617 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Castle Biosciences by 27.5% in the first quarter. Essex Investment Management Co. LLC now owns 117,245 shares of the company’s stock valued at $5,260,000 after purchasing an additional 25,310 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Shares of CSTL opened at $18.10 on Thursday. The company has a market cap of $461.30 million, a price-to-earnings ratio of -14.60 and a beta of 1.11. Castle Biosciences has a twelve month low of $18.08 and a twelve month high of $78.92. The company has a 50 day moving average of $33.56 and a two-hundred day moving average of $40.38.

About Castle Biosciences (Get Rating)

Castle Biosciences, Inc, a commercial-stage diagnostics company, focuses to provide diagnostic and prognostic testing services for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma.

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