Zacks Investment Research Upgrades Cancer Genetics (CGIX) to “Hold”

Cancer Genetics (NASDAQ:CGIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

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 equities research analysts also recently issued reports on the company. ValuEngine upgraded Cancer Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Dawson James downgraded Cancer Genetics from a “buy” rating to a “neutral” rating in a research report on Friday, April 6th. Maxim Group downgraded Cancer Genetics from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research report on Tuesday, April 3rd. Finally, HC Wainwright set a $6.00 price objective on Cancer Genetics and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.56.

NASDAQ:CGIX opened at $0.92 on Monday. The firm has a market cap of $24.42 million, a price-to-earnings ratio of -1.16 and a beta of 1.28. Cancer Genetics has a 1 year low of $0.92 and a 1 year high of $0.95. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.02.

Cancer Genetics (NASDAQ:CGIX) last posted its earnings results on Monday, April 2nd. The medical research company reported ($0.35) earnings per share (EPS) for the quarter. The company had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $9.45 million. Cancer Genetics had a negative return on equity of 66.71% and a negative net margin of 71.75%. analysts predict that Cancer Genetics will post -0.23 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CGIX. Two Sigma Securities LLC raised its position in shares of Cancer Genetics by 363.0% in the fourth quarter. Two Sigma Securities LLC now owns 67,677 shares of the medical research company’s stock worth $125,000 after buying an additional 53,061 shares in the last quarter. Perkins Capital Management Inc. raised its position in shares of Cancer Genetics by 22.7% in the fourth quarter. Perkins Capital Management Inc. now owns 989,700 shares of the medical research company’s stock worth $1,831,000 after buying an additional 183,000 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Cancer Genetics in the fourth quarter worth $3,304,000. Institutional investors own 17.89% of the company’s stock.

Cancer Genetics Company Profile

Cancer Genetics, Inc develops, commercializes, and provides molecular and biomarker-based tests and services in the United States, India, and China. Its tests enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor, and inform cancer treatment; and enable biotech and pharmaceutical companies involved in oncology trials to select candidate populations and reduce adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.

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