Lake Street lowered the firm’s price target on Castle Biosciences to $41 from $63 and keeps a Buy rating on the shares after the company reported Q4 results and guided to 2023 revenues in a range whose midpoint is ahead of the firm’s estimate and consensus. A lower target for the shares primarily reflects multiple compression in the space, said Lake Street, which adds that it believes the company has "plenty of levers in place" with contributions from newer products only beginning to move the needle.
Published first on TheFly
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