Maxim Group Initiates a Buy Rating on Cancer Genetics

By Austin Angelo

Cancer Genetics (NASDAQ: CGIX) received a Buy rating and a $6 price target from Maxim Group analyst Jason McCarthy today. The company’s shares closed yesterday at $2.15.

McCarthy wrote:

“As the paradigm in oncology shifts to immune therapy with CAR-T, PARPs, Checkpoints, and even BTK inhibitors attracting attention, we must not forget that it is the advances in diagnostics/theranostics and molecular profiling that enable guided therapy.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -2.9% and a 36.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Stellar Biotechnologies, Inc., ImmunoCellular Therapeutics, and Actinium Pharmaceuticals.

Currently, the analyst consensus on Cancer Genetics is Moderate Buy and the average price target is $6, representing a 179.1% upside.

In a report issued on November 29, H.C. Wainwright also reiterated a Buy rating on the stock with a $6 price target.

The company has a one-year high of $5.30 and a one-year low of $1.30. Currently, Cancer Genetics has an average volume of 101.3K.

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Cancer Genetics, Inc. is an early-stage diagnostics company that engages in the development and commercializes proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. Its developments include DNA-FISH Probes, CGH Microarrays and next-generation sequencing treatments. The company was founded by Raju S. K.