Oncocyte (NASDAQ:IMDX) Receives “Buy” Rating from Needham & Company LLC

Oncocyte (NASDAQ:IMDX)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $9.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 110.77% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Oncocyte from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncocyte in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Oncocyte presently has a consensus rating of “Hold” and an average target price of $10.50.

Oncocyte Stock Performance

IMDX stock opened at $4.27 on Tuesday. The firm has a market cap of $139.71 million, a P/E ratio of -2.87 and a beta of 1.79. Oncocyte has a 1 year low of $2.33 and a 1 year high of $8.51. The stock has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $5.05.

Oncocyte (NASDAQ:IMDX) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.23) EPS for the quarter. The company had revenue of $0.24 million during the quarter.

About Oncocyte

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.