Cancer Genetics, Inc. (CGIX) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cancer Genetics, Inc. (NASDAQ:CGIX) from a sell rating to a buy rating in a research note published on Monday, July 17th. Zacks Investment Research currently has $4.25 price objective on the medical research company’s stock.

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. “

Other analysts have also issued research reports about the company. HC Wainwright reaffirmed a buy rating and issued a $6.00 target price on shares of Cancer Genetics in a research note on Monday, March 27th. Dawson James initiated coverage on Cancer Genetics in a research note on Tuesday, June 27th. They issued a buy rating for the company. Finally, Benchmark Co. assumed coverage on Cancer Genetics in a research note on Monday, June 26th. They issued a speculative buy rating and a $6.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Cancer Genetics currently has an average rating of Buy and an average target price of $5.56.

Shares of Cancer Genetics (CGIX) traded up 1.39% on Monday, reaching $3.65. 154,699 shares of the company were exchanged. Cancer Genetics has a 12-month low of $1.10 and a 12-month high of $5.30. The stock’s 50-day moving average is $3.82 and its 200 day moving average is $3.42. The firm’s market capitalization is $72.13 million.

Cancer Genetics (NASDAQ:CGIX) last issued its earnings results on Thursday, May 11th. The medical research company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.07. The business had revenue of $7 million during the quarter, compared to analyst estimates of $7.62 million. Cancer Genetics had a negative return on equity of 48.69% and a negative net margin of 72.03%. Cancer Genetics’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. On average, analysts forecast that Cancer Genetics will post ($0.85) EPS for the current year.

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In related news, Director John Pappajohn acquired 100,000 shares of the stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $3.75 per share, for a total transaction of $375,000.00. Following the completion of the transaction, the director now owns 2,542,519 shares of the company’s stock, valued at approximately $9,534,446.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 103,437 shares of company stock valued at $388,076 in the last quarter. Corporate insiders own 21.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp increased its stake in shares of Cancer Genetics by 61.0% in the second quarter. Northern Trust Corp now owns 32,122 shares of the medical research company’s stock valued at $127,000 after buying an additional 12,168 shares during the last quarter. KCG Holdings Inc. bought a new stake in shares of Cancer Genetics during the first quarter valued at $102,000. Bank of Montreal Can bought a new stake in shares of Cancer Genetics during the first quarter valued at $120,000. Thompson Davis & CO. Inc. increased its stake in shares of Cancer Genetics by 5,465.0% in the second quarter. Thompson Davis & CO. Inc. now owns 111,300 shares of the medical research company’s stock valued at $440,000 after buying an additional 109,300 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in shares of Cancer Genetics during the first quarter valued at $483,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

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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