Lake Street raised the firm’s price target on Castle Biosciences to $34 from $32 and keeps a Buy rating on the shares after the company reported Q1 adjusted revenues “well ahead” of the firm’s estimate and consensus. The company raised guidance to $255M-$265M to reflect outperformance in Q1 and incremental Dx-SCC contribution, notes the firm, which raised its own 2024 revenue estimate and continue to see the company’s strategy of advancing its dermatology franchise while judiciously investing in its newer verticals generating value for investors.
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