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Needham Thinks OncoCyte’s Stock is Going to Recover

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Needham analyst Michael Matson maintained a Buy rating on OncoCyte (OCXResearch Report) today and set a price target of $5.00. The company’s shares closed last Tuesday at $2.19, close to its 52-week low of $1.80.

According to TipRanks.com, Matson is a 4-star analyst with an average return of 8.7% and a 53.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for OncoCyte with a $4.05 average price target, which is a 105.6% upside from current levels. In a report issued on January 5, Piper Sandler also initiated coverage with a Buy rating on the stock with a $3.10 price target.

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OncoCyte’s market cap is currently $202M and has a P/E ratio of -5.35.

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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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