Brokerages forecast that Cancer Genetics Inc (NASDAQ:CGIX) will report sales of $9.45 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cancer Genetics’ earnings, with the highest sales estimate coming in at $9.90 million and the lowest estimate coming in at $9.00 million. Cancer Genetics reported sales of $7.23 million during the same quarter last year, which indicates a positive year-over-year growth rate of 30.7%. The business is scheduled to report its next earnings results on Thursday, March 22nd.
According to Zacks, analysts expect that Cancer Genetics will report full year sales of $9.45 million for the current financial year, with estimates ranging from $30.60 million to $31.49 million. For the next year, analysts expect that the business will report sales of $44.25 million per share, with estimates ranging from $40.00 million to $48.49 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Cancer Genetics.
A number of equities research analysts have weighed in on the stock. HC Wainwright set a $6.00 target price on shares of Cancer Genetics and gave the stock a “buy” rating in a report on Tuesday, February 6th. ValuEngine raised shares of Cancer Genetics from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Maxim Group set a $6.00 target price on shares of Cancer Genetics and gave the stock a “buy” rating in a report on Wednesday, December 13th. Finally, Zacks Investment Research raised shares of Cancer Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $5.56.
Shares of Cancer Genetics (CGIX) opened at $1.80 on Wednesday. Cancer Genetics has a 1-year low of $1.55 and a 1-year high of $5.30. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a market cap of $49.87, a P/E ratio of -2.20 and a beta of 1.14.
In other news, Director John Pappajohn purchased 150,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were purchased at an average price of $1.86 per share, for a total transaction of $279,000.00. Following the transaction, the director now owns 2,781,204 shares of the company’s stock, valued at $5,173,039.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 21.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC lifted its position in shares of Cancer Genetics by 363.0% in the 4th quarter. Two Sigma Securities LLC now owns 67,677 shares of the medical research company’s stock worth $125,000 after purchasing an additional 53,061 shares during the period. Northern Trust Corp lifted its position in shares of Cancer Genetics by 61.0% in the 2nd quarter. Northern Trust Corp now owns 32,122 shares of the medical research company’s stock worth $127,000 after purchasing an additional 12,168 shares during the period. Granahan Investment Management Inc. MA lifted its position in shares of Cancer Genetics by 26.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 237,431 shares of the medical research company’s stock worth $641,000 after purchasing an additional 49,371 shares during the period. Perkins Capital Management Inc. lifted its position in shares of Cancer Genetics by 22.7% in the 4th quarter. Perkins Capital Management Inc. now owns 989,700 shares of the medical research company’s stock worth $1,831,000 after purchasing an additional 183,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Cancer Genetics by 61.9% in the 2nd quarter. Vanguard Group Inc. now owns 516,785 shares of the medical research company’s stock worth $2,041,000 after purchasing an additional 197,619 shares during the period. Hedge funds and other institutional investors own 17.90% of the company’s stock.
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Cancer Genetics Company Profile
Cancer Genetics, Inc is a United States-based company, which is engaged in the field of personalized medicine. The Company offers diagnostic products and services that enable precision medicine in the field of oncology through molecular markers and diagnostics. The Company offers a range of laboratory services that provide genomic and biomarker information.
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