Check-Cap Ltd. (CHEK) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Check-Cap Ltd. (NASDAQ:CHEK) from a hold rating to a buy rating in a research note published on Wednesday, May 24th. The brokerage currently has $2.25 price target on the medical research company’s stock.
According to Zacks, “Check Cap Ltd. is a medical diagnostics company. The company is engaged in the development of an ingestible imaging capsule for the screening of colorectal cancer. Check Cap Ltd. is based in Mount Carmel, Israel. “
Other equities analysts also recently issued reports about the stock. HC Wainwright set a $6.00 target price on shares of Check-Cap and gave the stock a buy rating in a report on Sunday, March 12th. Maxim Group set a $6.00 target price on shares of Check-Cap and gave the stock a buy rating in a report on Saturday, March 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Check-Cap currently has a consensus rating of Buy and an average price target of $5.06.
Shares of Check-Cap (NASDAQ:CHEK) remained flat at $1.88 during mid-day trading on Wednesday. 38,964 shares of the stock were exchanged. The company’s market cap is $29.38 million. Check-Cap has a 12 month low of $0.97 and a 12 month high of $3.42. The company’s 50 day moving average price is $2.00 and its 200 day moving average price is $2.20.
A hedge fund recently raised its stake in Check-Cap stock. Fosun International Ltd boosted its position in shares of Check-Cap Ltd. (NASDAQ:CHEK) by 43.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,197,366 shares of the medical research company’s stock after buying an additional 666,667 shares during the period. Check-Cap makes up approximately 0.5% of Fosun International Ltd’s portfolio, making the stock its 20th largest position. Fosun International Ltd owned approximately 17.93% of Check-Cap worth $4,351,000 at the end of the most recent reporting period. 13.35% of the stock is currently owned by institutional investors.
Check-Cap Ltd. (Check-Cap) is a clinical-stage medical diagnostics company. The Company is engaged in the development of an ingestible imaging capsule that utilizes low-dose X-rays for the detection and imaging of colonic polyps and colorectal cancers, or CRC. The Company’s system consists of main components, such as ingestible scanning capsule; Capsule Positioning System (CPS), a recorder worn on the patient’s back, and a personal computer (PC)-based work station for data reconstruction and image processing.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Check-Cap Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Check-Cap Ltd. and related stocks with our FREE daily email newsletter.