Latest Stocks: Biocept Inc (BIOC) Coverage Initiated at Chardan Capital

Latest Stocks: Biocept Inc (BIOC) Coverage Initiated at Chardan Capital

Research analysts at Chardan Capital initiated coverage on shares of Biocept Inc (NASDAQ:BIOC) in a note issued to investors on Friday. The firm set a “buy” rating and a $2.50 price target on the medical research company’s stock. Chardan Capital’s target price would indicate a potential upside of 67.79% from the company’s previous close.

BIOC has been the subject of several other reports. Zacks Investment Research lowered Biocept from a “hold” rating to a “sell” rating in a report on Thursday, February 16th. Roth Capital reissued a “buy” rating and issued a $3.00 price objective (up from $1.60) on shares of Biocept in a report on Monday, March 13th. Five analysts have rated the stock with a buy rating, Biocept presently has a consensus rating of “Buy” and a consensus target price of $2.35.

Biocept (NASDAQ BIOC) opened at 1.49 on Friday. The stock’s market cap is $39.63 million. The stock has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.59. Biocept has a 12-month low of $0.74 and a 12-month high of $3.39. Biocept (NASDAQ:BIOC) last announced its earnings results on Tuesday, March 7th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.07. Biocept had a negative return on equity of 764.73% and a negative net margin of 876.22%. The business had revenue of $1.29 million for the quarter, compared to analyst estimates of $1.26 million. On average, equities analysts expect that Biocept will post $0.40 earnings per share for the current year.

Biocept (NASDAQ BIOC) opened at 1.49 on Friday. The stock’s market cap is $39.63 million. The stock has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.59. Biocept has a 12-month low of $0.74 and a 12-month high of $3.39. A number of hedge funds have recently made changes to their positions in the stock. Intellectus Partners LLC raised its stake in shares of Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock valued at $271,000 after buying an additional 125,000 shares in the last quarter. WealthTrust Axiom LLC purchased a new stake in shares of Biocept during the first quarter valued at $298,000. Finally, Vanguard Group Inc. raised its stake in shares of Biocept by 210.9% in the first quarter. Vanguard Group Inc. now owns 697,605 shares of the medical research company’s stock valued at $1,486,000 after buying an additional 473,250 shares in the last quarter. 2.84% of the stock is owned by hedge funds and other institutional investors.

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