Chardan Capital Reiterates a Buy Rating on OncoCyte (OCX)

By Austin Angelo

Chardan Capital analyst Keay Nakae reiterated a Buy rating on OncoCyte (OCXResearch Report) today and set a price target of $7.75. The company’s shares closed last Tuesday at $2.70.

According to TipRanks.com, Nakae is a 4-star analyst with an average return of 8.3% and a 49.4% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Lineage Cell Therapeutics, and Emergent Biosolutions.

Currently, the analyst consensus on OncoCyte is a Moderate Buy with an average price target of $7.75.

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Based on OncoCyte’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $7.95 million. In comparison, last year the company had a GAAP net loss of $4.5 million.

Based on the recent corporate insider activity of 13 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 OCX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

OncoCyte Corp. is a pharmaceutical company. It is focused on the discovery, development and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company was founded in September 2009 and is headquartered in Alameda, CA.