Analysts Anticipate Biocept Inc (BIOC) Will Announce Quarterly Sales of $1.02 Million

Equities research analysts expect Biocept Inc (NASDAQ:BIOC) to report $1.02 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Biocept’s earnings. The lowest sales estimate is $900,000.00 and the highest is $1.14 million. Biocept posted sales of $1.11 million during the same quarter last year, which suggests a negative year over year growth rate of 8.1%. The firm is expected to report its next earnings results on Thursday, November 8th.

On average, analysts expect that Biocept will report full-year sales of $3.75 million for the current fiscal year, with estimates ranging from $3.48 million to $4.16 million. For the next fiscal year, analysts forecast that the company will report sales of $5.00 million, with estimates ranging from $4.99 million to $5.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Biocept.

Biocept (NASDAQ:BIOC) last posted its quarterly earnings results on Tuesday, August 14th. The medical research company reported ($2.70) EPS for the quarter, topping the Zacks’ consensus estimate of ($3.30) by $0.60. Biocept had a negative return on equity of 587.80% and a negative net margin of 642.49%. The company had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $1.09 million.

A number of research analysts recently commented on the company. Zacks Investment Research cut Biocept from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. ValuEngine cut Biocept from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Dawson James reaffirmed a “buy” rating on shares of Biocept in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $0.92.

NASDAQ BIOC opened at $2.39 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.20. Biocept has a 12 month low of $2.07 and a 12 month high of $36.00. The company has a market capitalization of $5.07 million, a P/E ratio of -0.10 and a beta of 1.63.

A hedge fund recently raised its stake in Biocept stock. BlackRock Inc. raised its position in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 794,302 shares of the medical research company’s stock after acquiring an additional 14,403 shares during the period. BlackRock Inc. owned approximately 34.99% of Biocept worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Biocept

Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. The company's 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 in order to identify resistance mechanisms.

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