Scotiabank analyst Sung Ji Nam maintains $Castle Biosciences (CSTL.US)$ with a buy rating, and adjusts the target price from $37 to $44.
According to TipRanks data, the analyst has a success rate of 49.0% and a total average return of -0.4% 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 delivered robust financial performance with another quarter surpassing expectations and achieving GAAP profit for the second time in a row. The stock presents a favorable risk/reward scenario. There is a strong possibility that Medicare reimbursement for the company's squamous cell carcinoma test may be extended beyond the fourth quarter, as payment has been received for the test over the last two and a half years and the company has effectively gathered additional supporting evidence and data.
Castle Biosciences reported a solid third quarter, with revenues meeting expectations and encouraging operational expenditure leverage. The overall volume growth was noted, although dermatology volumes fell short of estimates due to seasonal factors. Additionally, TissueCypher continued to show impressive momentum.
The expectation for Castle Biosciences is that although the coverage determination for the SCC test will stay as a point of interest, the company is experiencing expansion in test volumes, notably in IDgenetix and TissueCypher. This expansion in test volumes has played a significant role in the company's robust quarterly performance and the subsequent elevation of its revenue forecast.
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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丰业银行分析师Sung Ji Nam维持$Castle Biosciences (CSTL.US)$买入评级，并将目标价从37美元上调至44美元。
根据TipRanks数据显示，该分析师近一年总胜率为49.0%，总平均回报率为-0.4%。
此外，综合报道，$Castle Biosciences (CSTL.US)$近期主要分析师观点如下：
Castle Biosciences实现了强劲的财务业绩，又一个季度超出了预期，连续第二次实现了GAAP利润。该股呈现出有利的风险/回报情景。该公司鳞状细胞癌测试的医疗保险报销很有可能延长到第四季度以后，因为在过去两年半中已经收到了该测试的款项，而且该公司实际上已经收集了额外的支持证据和数据。
Castle Biosciences公布了稳健的第三季度业绩，收入符合预期，运营支出杠杆率令人鼓舞。尽管由于季节性因素，皮肤科数量低于预期，但总体销量仍有增长。此外，TissueCypher继续表现出令人印象深刻的势头。
对Castle Biosciences的预期是，尽管SCC测试的覆盖范围决定仍将是人们关注的焦点，但该公司的测试量正在扩大，尤其是IDGenetix和TissueCypher的测试量。测试量的增长在公司强劲的季度业绩以及随后提高收入预测方面发挥了重要作用。
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