4 Analysts Assess OncoCyte: What You Need To Know
Analysts' ratings for OncoCyte (NASDAQ:OCX) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 2 | 1 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 1 | 0 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have set 12-month price targets for OncoCyte, revealing an average target of $4.38, a high estimate of $5.00, and a low estimate of $4.00. This upward trend is evident, with the current average reflecting a 21.67% increase from the previous average price target of $3.60.
Investigating Analyst Ratings: An Elaborate Study
A comprehensive examination of how financial experts perceive OncoCyte is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Mike Matson | Needham | Maintains | Buy | $4.25 | - |
| Mike Matson | Needham | Raises | Buy | $4.25 | $3.60 |
| Mason Carrico | Stephens & Co. | Maintains | Equal-Weight | $4.00 | - |
| Bruce Jackson | Benchmark | Maintains | Speculative Buy | $5.00 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to OncoCyte. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of OncoCyte compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of OncoCyte's stock. This comparison reveals trends in analysts' expectations over time.
For valuable insights into OncoCyte's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
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All You Need to Know About OncoCyte
OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancers. In addition, it also develops screening diagnostics as potential replacements for screening imaging procedures that do not meet the needs of patients, health care providers or payers.
Financial Milestones: OncoCyte's Journey
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Over the 3 months period, OncoCyte showcased positive performance, achieving a revenue growth rate of 14.6% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Health Care sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -5157.64%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): OncoCyte's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -55.82% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): OncoCyte's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -20.7%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.14.
How Are Analyst Ratings Determined?
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.