Maxim Group Lowers Biocept (NASDAQ:BIOC) Price Target to $5.00

Biocept (NASDAQ:BIOCGet Rating) had its price target dropped by analysts at Maxim Group to $5.00 in a note issued to investors on Thursday, Stock Target Advisor reports. Maxim Group’s price target points to a potential upside of 254.61% from the stock’s previous close.

BIOC has been the subject of several other reports. StockNews.com initiated coverage on Biocept in a research note on Thursday, May 19th. They issued a “hold” rating for the company. TheStreet cut shares of Biocept from a “c-” rating to a “d” rating in a research report on Wednesday, April 27th. Finally, Zacks Investment Research downgraded Biocept from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Biocept has an average rating of “Hold” and an average price target of $4.63.

Biocept stock traded up $0.04 during mid-day trading on Thursday, reaching $1.41. 828 shares of the company were exchanged, compared to its average volume of 131,645. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.66 and a current ratio of 3.88. The firm has a market cap of $23.83 million, a P/E ratio of -14.10 and a beta of 0.66. The business has a fifty day moving average of $1.82 and a 200 day moving average of $2.70. Biocept has a 12-month low of $1.33 and a 12-month high of $4.97.

Biocept (NASDAQ:BIOCGet Rating) last posted its quarterly earnings data on Monday, May 23rd. The medical research company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Biocept had a negative return on equity of 5.35% and a negative net margin of 2.89%. The firm had revenue of $19.95 million for the quarter, compared to the consensus estimate of $6.99 million. Sell-side analysts predict that Biocept will post -1.47 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIOC. Morgan Stanley increased its position in Biocept by 177,825.0% during the second quarter. Morgan Stanley now owns 177,925 shares of the medical research company’s stock worth $745,000 after purchasing an additional 177,825 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Biocept during the 3rd quarter valued at approximately $76,000. Jump Financial LLC acquired a new position in Biocept in the third quarter valued at approximately $78,000. Renaissance Technologies LLC purchased a new position in Biocept in the third quarter worth approximately $204,000. Finally, Marshall Wace LLP acquired a new stake in Biocept during the third quarter worth $421,000. 13.52% of the stock is currently owned by institutional investors.

About Biocept (Get Rating)

Biocept, Inc, a molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell and circulating cell-free tumor DNA and RNA assays utilizing a standard blood sample. Its cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring to identify resistance mechanisms.

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