Zacks Investment Research Upgrades Check-Cap (NASDAQ:CHEK) to Buy

Zacks Investment Research upgraded shares of Check-Cap (NASDAQ:CHEK) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $1.25 price objective 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. “

Separately, HC Wainwright lowered their price objective on Check-Cap from $4.00 to $3.00 and set a buy rating for the company in a research report on Monday, August 9th.

NASDAQ CHEK opened at $1.03 on Wednesday. The company has a fifty day moving average price of $1.08 and a 200-day moving average price of $1.42. Check-Cap has a 1 year low of $0.24 and a 1 year high of $4.49. The firm has a market cap of $47.63 million, a price-to-earnings ratio of -1.56 and a beta of -0.22.

Check-Cap (NASDAQ:CHEK) last announced its quarterly earnings data on Thursday, August 5th. The medical research company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Equities analysts forecast that Check-Cap will post -0.2 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of Check-Cap during the first quarter valued at $108,000. Citadel Advisors LLC bought a new position in shares of Check-Cap during the first quarter valued at $244,000. Virtu Financial LLC bought a new position in shares of Check-Cap during the first quarter valued at $560,000. Renaissance Technologies LLC bought a new position in shares of Check-Cap during the second quarter valued at $630,000. Finally, CVI Holdings LLC bought a new position in shares of Check-Cap during the second quarter valued at $3,346,000. Hedge funds and other institutional investors own 10.93% of the company’s stock.

Check-Cap Company Profile

Check-Cap Ltd. is a clinical stage medical diagnostics company, which engages in the development of ingestible imaging capsule system for colorectal cancer screening. Its patented technology, C-Scan, is a patient-friendly preparation-free test designed to detect polyps before they may transform into cancer.

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