Castle Biosciences’ (CSTL) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Castle Biosciences (NASDAQ:CSTL) in a research note issued to investors on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $37.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Zacks Research upgraded shares of Castle Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Scotiabank lowered their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Castle Biosciences Price Performance

CSTL stock opened at $24.65 on Tuesday. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $35.84. The company has a quick ratio of 6.69, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $19.66 and a two-hundred day simple moving average of $19.41. The firm has a market capitalization of $715.10 million, a P/E ratio of -70.43 and a beta of 1.07.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.66. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The business had revenue of $86.18 million during the quarter, compared to analyst estimates of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Analysts anticipate that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Castle Biosciences

Several institutional investors have recently made changes to their positions in CSTL. Wellington Management Group LLP bought a new stake in shares of Castle Biosciences in the 4th quarter worth about $19,244,000. Nuveen LLC bought a new stake in Castle Biosciences during the 1st quarter valued at about $13,450,000. Park West Asset Management LLC bought a new stake in Castle Biosciences during the 1st quarter valued at about $11,141,000. Braidwell LP lifted its holdings in Castle Biosciences by 125.3% during the 2nd quarter. Braidwell LP now owns 822,735 shares of the company’s stock valued at $16,800,000 after buying an additional 457,488 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Castle Biosciences by 290.5% during the 4th quarter. Millennium Management LLC now owns 548,809 shares of the company’s stock valued at $14,626,000 after buying an additional 408,272 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.