Biocept Inc. (BIOC): What the Financials Tell Us

Biocept Inc. (NASDAQ:BIOC) saw an upside of 0.52% to close Tuesday at $3.87 after adding $0.02 on the day. The 5-day average trading volume is 650,500 shares of the company’s common stock. It has gained $4.20 in the past week. An average of 372,855 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,264,246.

BIOC’s 1-month performance is -1.02% or $0.08 on its low of $3.73 reached on 09/15/21. The company’s shares have touched a 52-week low of $3.26 and high of $8.38, with the stock’s rally to the 52-week high happening on 02/16/21. YTD, BIOC has lost -12.84% or -$0.57. However, the current price is down -53.82%% from the 52-week high price.


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Valuation Metrics

Biocept Inc. (BIOC) has a trailing price-to-earnings (P/E) ratio of 26.50 for the broader industry and 32.19 for the sector.BIOC stock has a beta of 0.56. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.02 while the price-to-book (PB) in the most recent quarter is 1.78.

Biocept Inc.’s quick ratio for the period ended June 29 was 3.40, with the current ratio over the same period at 3.70 meaning that BIOC stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.05, while the total debt to equity was 0.11. In terms of profitability, the gross margin trailing 12 months is 41.10%. The trailing 12-month EBITDA margin is -52.68% while for the period ending June 29; Biocept Inc.’s operating margin was -3.50%. The firm’s gross profit as reported stood at $6.12 million against revenue of $27.46 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 90.38% to $18.51 million, while revenue of $6.59 million was 64.4% off the previous quarter. Analysts expected BIOC to announce -$0.16 per share in earnings in its latest quarter, but it posted -$0.14, representing a 12.50% surprise. EBITDA for the quarter stood at more than -$1.04 million. BIOC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 21.25 million, with total debt at $13.13 million. Shareholders hold equity totaling $14.72 million

Technical Picture

Let’s look briefly at Biocept Inc. (BIOC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 47.93% to suggest the stock is trending Neutral, with historical volatility in this time period at 31.20%.

The stock’s 5-day moving average is $3.85, reflecting a +0.78% or $0.03 change from its current price. BIOC is currently trading +2.11% above its 20-day SMA, -14.76% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -5.61% and -17.83% respectively.

Stochastic %K and %D was 29.71% and 26.70% and the average true range (ATR) pointed at 0.23. The RSI (14) points at 49.30%, while the 14-day stochastic is at 28.26% with the period’s ATR at 0.22. The stock’s 9-day MACD Oscillator is pointing at -0.01 and -0.07 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Biocept Inc. (NASDAQ: BIOC), Chardan Capital Markets reiterated its a Buy rating for the company but lifted their price target by $2.50 to $1.50. Analysts offering their rating for BIOC stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate BIOC as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.

What is BIOC’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $12.00 and a high of $14.00, with their median price target at $13.00. Looking at these predictions, the average price target given by analysts is for Biocept Inc. (BIOC) stock is $13.00.

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