Biocept (NASDAQ:BIOC) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Biocept (NASDAQ:BIOC) from a hold rating to a buy rating in a research report sent to investors on Thursday, ValuEngine reports.

Separately, Maxim Group reaffirmed a buy rating and set a $3.00 price target on shares of Biocept in a research report on Thursday, May 9th.

Biocept stock traded up $0.04 during midday trading on Thursday, reaching $1.04. The stock had a trading volume of 392,424 shares, compared to its average volume of 433,851. The company’s fifty day moving average is $1.05. Biocept has a 1-year low of $0.66 and a 1-year high of $5.00. The stock has a market capitalization of $19.06 million, a PE ratio of -0.12 and a beta of 1.93. The company has a quick ratio of 2.63, a current ratio of 2.72 and a debt-to-equity ratio of 0.10.

Biocept (NASDAQ:BIOC) last announced its earnings results on Wednesday, May 8th. The medical research company reported ($0.61) earnings per share (EPS) for the quarter. The firm had revenue of $1.02 million during the quarter. Biocept had a negative net margin of 695.85% and a negative return on equity of 338.61%.

An institutional investor recently raised its position in Biocept stock. Dimensional Fund Advisors LP grew its stake in shares of Biocept Inc (NASDAQ:BIOC) by 180.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,500 shares of the medical research company’s stock after purchasing an additional 71,055 shares during the quarter. Dimensional Fund Advisors LP owned about 4.86% of Biocept worth $95,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.34% of the company’s stock.

Biocept Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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