Needham Sticks to Their Buy Rating for OncoCyte (OCX)

In a report released today, Michael Matson from Needham maintained a Buy rating on OncoCyte (OCXResearch Report), with a price target of $2.10. The company’s shares closed yesterday at $0.95.

According to TipRanks, Matson is a 4-star analyst with an average return of 4.7% and a 52.17% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific, Cardiovascular Systems, and Haemonetics.

Currently, the analyst consensus on OncoCyte is a Strong Buy with an average price target of $1.58.

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Based on OncoCyte’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.42 million and a GAAP net loss of $10.29 million. In comparison, last year the company earned a revenue of $1.12 million and had a GAAP net loss of $3.92 million

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OCX in relation to earlier this year.

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.

OncoCyte Corp. is a pharmaceutical company. It is focused on the discovery, development and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company was founded in September 2009 and is headquartered in Alameda, CA.

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