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Castle Biosciences (CSTL) Receives a Buy from Leerink Partners

In a report issued on March 29, Puneet Souda from Leerink Partners maintained a Buy rating on Castle Biosciences (CSTLResearch Report). The company’s shares closed last Wednesday at $44.00.

According to TipRanks.com, Souda has 0 stars on 0-5 stars ranking scale with an average return of -4.0% and a 40.9% success rate. Souda covers the Healthcare sector, focusing on stocks such as AbCellera Biologics, Twist Bioscience, and Guardant Health.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Castle Biosciences with a $68.00 average price target.

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Based on Castle Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $25.04 million and GAAP net loss of $6.43 million. In comparison, last year the company earned revenue of $17.3 million and had a GAAP net loss of $4.89 million.

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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.

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