Cancer Genetics Inc. (CGIX) Upgraded to “Buy” at Zacks Investment Research
Cancer Genetics Inc. (NASDAQ:CGIX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $2.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.50% from the company’s previous close.
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. “
Several other analysts have also recently weighed in on CGIX. HC Wainwright initiated coverage on shares of Cancer Genetics in a research note on Tuesday, September 27th. They issued a “buy” rating and a $6.00 price target for the company. Rodman & Renshaw initiated coverage on shares of Cancer Genetics in a research note on Monday, September 26th. They issued a “buy” rating and a $6.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $7.25.
Shares of Cancer Genetics (NASDAQ:CGIX) traded up 3.43% during trading on Tuesday, reaching $1.81. 130,555 shares of the company were exchanged. The firm has a 50-day moving average price of $1.95 and a 200-day moving average price of $2.19. The stock’s market capitalization is $29.18 million. Cancer Genetics has a 1-year low of $1.70 and a 1-year high of $8.51.
Cancer Genetics (NASDAQ:CGIX) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.05. The company earned $7 million during the quarter, compared to the consensus estimate of $6.50 million. Cancer Genetics had a negative net margin of 89.60% and a negative return on equity of 72.29%. Cancer Genetics’s quarterly revenue was up 67.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.51) EPS. Equities research analysts predict that Cancer Genetics will post ($1.17) earnings per share for the current fiscal year.
In related news, Director John Pappajohn acquired 45,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average price of $2.29 per share, with a total value of $103,050.00. Following the transaction, the director now owns 2,287,109 shares of the company’s stock, valued at approximately $5,237,479.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 25.40% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Sabby Management LLC boosted its position in Cancer Genetics by 28.5% in the first quarter. Sabby Management LLC now owns 81,300 shares of the company’s stock worth $231,000 after buying an additional 18,049 shares during the last quarter. Bridger Management LLC bought a new position in Cancer Genetics during the first quarter worth $149,000. Eagle Global Advisors LLC boosted its position 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. Fairbanks Capital Management Inc. bought a new position in Cancer Genetics during the second quarter worth $464,000. Finally, Vanguard Group Inc. boosted its position 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. 9.65% of the stock is owned by hedge funds and other institutional investors.
About Cancer Genetics
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.
Receive News & Stock Ratings for Cancer Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cancer Genetics Inc. and related stocks with our FREE daily email newsletter.