Feltl Upgrades Biocept Inc to Buy

By Austin Angelo

In a report released today, Ben Haynor from Feltl upgraded Biocept Inc (NASDAQ: BIOC) to Buy. The company’s shares opened today at $0.84.

According to TipRanks.com, Haynor is a 1-star analyst with an average return of -2.4% and a 41.9% success rate. Haynor covers the Healthcare sector, focusing on stocks such as Cardiovascular Systems, Idexx Laboratories, and Vascular Solutions.

Currently, the analyst consensus on Biocept Inc is Strong Buy and the average price target is $1.60, representing a 90.5% upside.

In a report released today, Roth Capital also reiterated a Buy rating on the stock with a $1.60 price target.

Based on Biocept Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.05 million and GAAP net loss of $4.74 million. In comparison, last year the company earned revenue of $164.9K and had a GAAP net loss of $4.5 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BIOC in relation to earlier this year.

Biocept, Inc. is an oncology laboratory service company, which focuses on the development and marketing of novel laboratory products in the detection of rare cells to include circulating tumor cells. It develops and commercializes proprietary circulating tumor cell and circulating tumor DNA tests utilizing a standard blood sample. The company utilizes cell enrichment and extraction technology for the detection and analysis of circulating tumor DNA tests. It also offers services to other laboratory testing providers, academic institutions, research organizations, biopharmaceutical companies and clinical trial support. The company was founded on May 12, 1997 and is headquartered in San Diego, CA.