$CGIX In at 1.60 Zacks Investment Research upgraded shares of Cancer Genetics Inc. (NASDAQ:CGIX) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $1.75 price target on the stock.
According to Zacks, “Cancer Genetics, Inc. operates as a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. The company’s tests target cancers, including hematological, urogenital, and HPV-associated cancers. It also offers non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals as well as biopharma and biotech. Cancer Genetics, Inc. is headquartered in Rutherford, New Jersey. “
Other equities research analysts have also issued reports about the stock. Rodman & Renshaw assumed coverage on shares of Cancer Genetics in a research note on Monday, September 26th. They set a buy rating and a $6.00 target price on the stock. HC Wainwright assumed coverage on shares of Cancer Genetics in a research note on Tuesday, September 27th. They set a buy rating and a $6.00 target price on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Cancer Genetics currently has a consensus rating of Buy and a consensus target price of $7.19.
Cancer Genetics (NASDAQ:CGIX) remained flat at $1.60 on Tuesday. The stock had a trading volume of 51,145 shares. The firm’s market cap is $25.79 million. Cancer Genetics has a 1-year low of $1.10 and a 1-year high of $3.82. The firm has a 50-day moving average of $1.56 and a 200-day moving average of $1.96.
Cancer Genetics (NASDAQ:CGIX) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.05. Cancer Genetics had a negative net margin of 74.07% and a negative return on equity of 63.26%. The company had revenue of $6.80 million for the quarter, compared to analyst estimates of $6.93 million. During the same period in the prior year, the company earned ($0.56) earnings per share. The firm’s revenue was up 70.0% on a year-over-year basis. Equities analysts forecast that Cancer Genetics will post ($1.17) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairbanks Capital Management Inc. increased its position in Cancer Genetics by 0.9% in the third quarter. Fairbanks Capital Management Inc. now owns 235,170 shares of the company’s stock valued at $411,000 after buying an additional 2,000 shares during the period. Vanguard Group Inc. increased its stake in Cancer Genetics by 3.3% in the second quarter. Vanguard Group Inc. now owns 326,966 shares of the company’s stock worth $651,000 after buying an additional 10,328 shares during the last quarter. Eagle Global Advisors LLC increased its stake in Cancer Genetics by 69.3% in the second quarter. Eagle Global Advisors LLC now owns 84,320 shares of the company’s stock worth $168,000 after buying an additional 34,510 shares during the last quarter. Bridger Management LLC acquired a new stake in Cancer Genetics during the first quarter worth approximately $149,000. Finally, Sabby Management LLC increased its stake in Cancer Genetics by 145.5% in the second quarter. Sabby Management LLC now owns 199,580 shares of the company’s stock worth $397,000 after buying an additional 118,280 shares during the last quarter. Hedge funds and other institutional investors own 11.08% of the company’s stock.
Cancer Genetics Company Profile
Cancer Genetics, Inc is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.
5 Day Chart for NASDAQ:CGIX
