Lake Street analyst Thomas Flaten maintains $Castle Biosciences (CSTL.US)$ with a buy rating, and adjusts the target price from $34 to $40.
According to TipRanks data, the analyst has a success rate of 40.8% and a total average return of 3.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Castle Biosciences (CSTL.US)$'s main analysts recently are as follows:
Castle Biosciences has reported another quarter of robust financial performance, surpassing expectations and demonstrating its second successive quarter of GAAP profitability. The positive risk/reward profile of the stock is evident, and there is a strong possibility that reimbursement for the company's squamous cell carcinoma test may be extended beyond the current period. This is based on the fact that the company has been receiving payments for over two and a half years and has effectively gathered further evidence and data that could justify ongoing Medicare reimbursement.
The firm indicated that Castle Biosciences delivered a solid third quarter, with revenues meeting expectations and showing promising operational expenditure leverage. The company saw overall volume growth, although dermatology volumes fell short of estimates, which was attributed to seasonal factors. Furthermore, the TissueCypher product continued to exhibit strong momentum.
The company's expansion in test volumes, particularly in IDgenetix and TissueCypher, has been noted as contributing to robust quarterly results and an upward revision in revenue guidance.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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Lake Street分析師Thomas Flaten維持$Castle Biosciences (CSTL.US)$買入評級，並將目標價從34美元上調至40美元。
根據TipRanks數據顯示，該分析師近一年總勝率為40.8%，總平均回報率為3.2%。
此外，綜合報道，$Castle Biosciences (CSTL.US)$近期主要分析師觀點如下：
Castle Biosciences報告了又一個季度的強勁財務業績，超出了預期，並連續第二個季度實現了GAAP的盈利能力。該股的積極風險/回報狀況顯而易見，該公司鱗狀細胞癌測試的報銷很有可能延長到本期以後。這是基於這樣一個事實，即該公司已經收到付款超過兩年半，並且有效地收集了進一步的證據和數據，可以證明持續的醫療保險報銷是合理的。
該公司表示，Castle Biosciences實現了穩健的第三季度業績，收入符合預期，運營支出槓桿率表現出良好的前景。該公司的整體銷量有所增長，儘管皮膚科產量低於預期，這歸因於季節性因素。此外，TissueCypher產品繼續表現出強勁的勢頭。
該公司測試量的擴大，尤其是IDGenetix和TissueCypher的測試量的擴大，被認爲促進了強勁的季度業績和收入指引的上調。
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