Brokerages forecast that Castle Biosciences (NASDAQ:CSTL) will report sales of $11.99 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Castle Biosciences’ earnings. The lowest sales estimate is $11.75 million and the highest is $12.23 million. The firm is scheduled to announce its next quarterly earnings results on Monday, February 10th.
On average, analysts expect that Castle Biosciences will report full year sales of $46.22 million for the current fiscal year, with estimates ranging from $45.98 million to $46.46 million. For the next fiscal year, analysts forecast that the business will post sales of $54.08 million, with estimates ranging from $52.81 million to $55.35 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Castle Biosciences.
Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.33. The company had revenue of $14.78 million during the quarter, compared to analyst estimates of $10.28 million.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of Castle Biosciences from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday. Canaccord Genuity increased their target price on shares of Castle Biosciences from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, December 27th. Six analysts have rated the stock with a buy rating, Castle Biosciences currently has a consensus rating of “Buy” and a consensus target price of $32.83.
Several hedge funds have recently added to or reduced their stakes in CSTL. Essex Investment Management Co. LLC acquired a new stake in shares of Castle Biosciences during the third quarter valued at approximately $963,000. Perkins Capital Management Inc. acquired a new stake in shares of Castle Biosciences during the third quarter valued at approximately $505,000. Chartwell Investment Partners LLC acquired a new stake in shares of Castle Biosciences during the third quarter valued at approximately $672,000. Russell Investments Group Ltd. acquired a new stake in shares of Castle Biosciences during the third quarter valued at approximately $313,000. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of Castle Biosciences during the third quarter valued at approximately $300,000. Institutional investors and hedge funds own 28.52% of the company’s stock.
Shares of NASDAQ:CSTL traded down $2.51 during trading on Thursday, reaching $30.70. The company had a trading volume of 83,301 shares, compared to its average volume of 104,822. The business’s fifty day moving average is $30.42. Castle Biosciences has a twelve month low of $15.26 and a twelve month high of $39.77. The company has a current ratio of 11.89, a quick ratio of 11.80 and a debt-to-equity ratio of 0.26.
About Castle Biosciences
Castle Biosciences, Inc, a commercial-stage dermatological cancer, develops and commercializes diagnostic and prognostic tests for cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify stage I and II patients at high risk of metastasis based on biological information from 31 genes within their tumor tissue.
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