Biocept, Inc. (NASDAQ:BIOC) is one of the stocks that are grabbing investor focus today: skyrocketing 5.1% or (0.02 points) to $0.55 from its previous close of $0.53. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 725209 contracts so far this session. BIOC shares had a relatively better volume day versus average trading capacity of 389.15 thousand shares, but with a 22.98 million float and a -0.4% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BIOC stock indicates that the average analyst price target is $3 per share. This means the stock has a potential increase of 445.45% from where the BIOC share price has been trading recently which is between $0.5112 and $0.5499. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $3.
During the recent trading session for Biocept, Inc. (NASDAQ:BIOC), the company witnessed their stock rise $unch over a week and tumble down $-0.19 from the price 20 days ago. When compared to their established 52-week high of $3.72, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/16/19. The recent low of $0.51 stood for a -85.11% since 11/18/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.69 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for BIOC is set at $3, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Biocept, Inc., the two-week RSI stands at 36.9. This figure suggests that BIOC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BIOC readings is similarly very revealing as it has a stochastic reading of 10.26% at this stage. This figure means that BIOC share price today is being overbought.
Technical chart claims that Biocept, Inc. (BIOC) would settle between $0.55/share to $0.57/share level. However, if the stock price goes below the $0.51 mark, then the market for Biocept, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.49 for its downside target.
Analysts at Chardan Capital Markets lifted target price for shares of BIOC but were stick to Buy recommendation for the stock in their opinion released on November 14. The price target has been raised from $2.50 to $1.50. Chardan Capital Markets, analysts launched coverage of Biocept, Inc. (NASDAQ:BIOC) stock with a Buy recommendation, according to their flash note issued to investors on June 02. Analysts at ROTH Capital, made their first call for the equity with a Buy recommendation, according to a research note that dated back to June 06.
BIOC equity has an average rating of 2.25, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Biocept, Inc. (NASDAQ:BIOC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BIOC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 46.4. Biocept, Inc. current P/B ratio of 1.6 means it is trading at a discount against its industry’s 4.7.
Biocept, Inc. (BIOC)’s current-quarter revenues are projected to climb by nearly 97.9% to hit $1.7 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 64.9% from $3.25 million to a noteworthy $5.36 million. At the other end of the current quarter income statement, Biocept, Inc. is expected to see its adjusted earnings surge by roughly 91.7% to hit $-0.2 per share. For the fiscal year, BIOC’s earnings are projected to climb by roughly 85.8% to hit $-1.28 per share.