Castle Biosciences (CSTL) Receives a Buy from SVB Securities

In a report released today, Puneet Souda from SVB Securities maintained a Buy rating on Castle Biosciences (CSTLResearch Report), with a price target of $50.00. The company’s shares closed yesterday at $28.48.

According to TipRanks, Souda is an analyst with an average return of -6.7% and a 41.35% success rate. Souda covers the Healthcare sector, focusing on stocks such as Exact Sciences, Hologic, and Illumina.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Castle Biosciences with a $45.75 average price target, representing a 60.64% upside. In a report released today, Robert W. Baird also maintained a Buy rating on the stock with a $48.00 price target.

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CSTL market cap is currently $747.9M and has a P/E ratio of -13.97.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CSTL in relation to earlier this year. Most recently, in May 2022 Stokes Frank, the CFO of CSTL bought 4,000.00 shares for a total of $13,520.00.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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