Scotiabank analyst Sung Ji Nam reiterated a Buy rating on Castle Biosciences (CSTL – Research Report) today and set a price target of $33.00. The company’s shares closed last Friday at $17.98.
Ji Nam covers the Healthcare sector, focusing on stocks such as Guardant Health, Illumina, and Veracyte. According to TipRanks, Ji Nam has an average return of -2.8% and a 48.39% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Castle Biosciences with a $33.67 average price target, an 87.26% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $40.00 price target.
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Based on Castle Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $50.14 million and a GAAP net loss of $18.78 million. In comparison, last year the company earned a revenue of $34.84 million and had a GAAP net loss of $1.65 million
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Castle Biosciences (CSTL) Company Description:
Castle Biosciences, Inc. is a commercial-stage dermatological cancer company, which engages in the provision of genomic information for physicians and patients. The company offers DecisionDx-Melanoma, a proprietary multi-gene expression profile (GEP) test that predicts the risk of metastasis and recurrence for patients diagnosed with invasive cutaneous melanoma. It also markets DecisionDx-UM, which is a proprietary GEP test that predicts the risk of metastasis for patients with uveal melanoma. The company was founded by Derek J. Maetzold in September 2007 and is headquartered in Friendswood, TX.
Read More on CSTL:
- Castle Biosciences announces new data on pipeline test ability
- Castle Biosciences raises FY23 revenue view to at least $200M, consensus $187.1M
- Castle Biosciences reports Q3 EPS (26c), consensus (76c)
- Castle Biosciences to share portfolio of GEP tests at FC23
- Castle Biosciences management to meet virtually with Stephens
