tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Canaccord recommends buying Castle Biosciences on weakness after MolDX news

Canaccord reiterates a Buy rating and $35 price target on Castle Biosciences shares and recommends buying on weakness in light of a final noncoverage decision announced on July 4 by the Palmetto MolDX program for the DecisionDx-SCC test. While the firm says it appears likely that Novitas will also not cover DDx-SCC in its final LCD, Canaccord views these decisions as “clearing events that should help investors re-focus on Castle’s attractive fundamentals” and the company’s “robust core revenue growth and gross margins,” the analyst tells investors.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1