Castle Biosciences (NASDAQ:CSTL) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Castle Biosciences (NASDAQ:CSTL) from a sell rating to a buy rating in a report issued on Monday morning, Zacks.com reports. Zacks Investment Research currently has $32.00 price objective on the stock.

According to Zacks, “Castle Biosciences Inc. is a commercial-stage dermatological cancer company. It is focused on providing physicians and patients, clinically actionable genomic information. Castle Biosciences Inc. is based in Texas, United States. “

Several other equities analysts also recently weighed in on the stock. BTIG Research raised their target price on shares of Castle Biosciences to $32.00 and gave the company a buy rating in a report on Wednesday, September 4th. Svb Leerink began coverage on shares of Castle Biosciences in a report on Monday, August 19th. They set an outperform rating and a $28.00 target price for the company. Robert W. Baird raised their target price on shares of Castle Biosciences from $27.00 to $31.00 and gave the company an outperform rating in a report on Wednesday, September 4th. Leerink Swann set a $33.00 target price on shares of Castle Biosciences and gave the company a buy rating in a report on Wednesday, September 4th. Finally, Canaccord Genuity raised their target price on shares of Castle Biosciences from $26.00 to $34.00 and gave the company a buy rating in a report on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, Castle Biosciences currently has an average rating of Buy and an average target price of $31.67.

Shares of CSTL traded down $0.64 during trading hours on Monday, reaching $28.17. The company had a trading volume of 92,551 shares, compared to its average volume of 139,693. The firm has a 50 day moving average of $20.71. The company has a quick ratio of 11.80, a current ratio of 11.89 and a debt-to-equity ratio of 0.26. Castle Biosciences has a 12-month low of $15.26 and a 12-month high of $30.27.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, November 11th. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.33. The business had revenue of $14.78 million for the quarter, compared to analysts’ expectations of $10.28 million. On average, research analysts anticipate that Castle Biosciences will post -1.19 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CSTL. Essex Investment Management Co. LLC purchased a new stake in shares of Castle Biosciences during the third quarter worth about $963,000. Chartwell Investment Partners LLC purchased a new stake in shares of Castle Biosciences during the third quarter worth about $672,000. Dean Capital Investments Management LLC purchased a new stake in shares of Castle Biosciences during the third quarter worth about $507,000. Perkins Capital Management Inc. purchased a new stake in shares of Castle Biosciences during the third quarter worth about $505,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Castle Biosciences during the third quarter worth about $313,000. Institutional investors and hedge funds own 3.80% of the company’s stock.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a commercial-stage dermatological cancer, develops and commercializes diagnostic and prognostic tests for cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify stage I and II patients at high risk of metastasis based on biological information from 31 genes within their tumor tissue.

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