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Biocept (BIOC) Receives a Buy from Brookline Capital Markets

Biocept (BIOCResearch Report) received a Buy rating and a $12.00 price target from Brookline Capital Markets analyst Kumaraguru Raja today. The company’s shares closed last Wednesday at $1.59.

According to TipRanks.com, Raja is a 3-star analyst with an average return of 1.6% and a 32.2% success rate. Raja covers the Healthcare sector, focusing on stocks such as Cyclacel Pharmaceuticals, Caladrius Biosciences, and Outlook Therapeutics.

Biocept has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.

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Based on Biocept’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $13.98 million and GAAP net loss of $2.97 million. In comparison, last year the company earned revenue of $18.51 million and had a net profit of $1.9 million.

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Biocept, Inc. is an oncology laboratory service company, which focuses on the development and marketing of novel laboratory products in the detection of rare cells to include circulating tumor cells. It develops and commercializes proprietary circulating tumor cell and circulating tumor DNA tests utilizing a standard blood sample. The company utilizes cell enrichment and extraction technology for the detection and analysis of circulating tumor DNA tests. It also offers services to other laboratory testing providers, academic institutions, research organizations, biopharmaceutical companies and clinical trial support and specific oncogenic alterations. Biocept was founded on May 12, 1997 and is headquartered in San Diego, CA.

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