Leerink Partnrs Has Bullish Outlook for CSTL FY2024 Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Stock analysts at Leerink Partnrs upped their FY2024 EPS estimates for Castle Biosciences in a research report issued to clients and investors on Monday, November 4th. Leerink Partnrs analyst P. Souda now anticipates that the company will earn $0.32 per share for the year, up from their previous forecast of ($0.69). The consensus estimate for Castle Biosciences’ current full-year earnings is ($0.58) per share. Leerink Partnrs also issued estimates for Castle Biosciences’ Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.44) EPS.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same period in the prior year, the business posted ($0.26) EPS.

CSTL has been the topic of a number of other reports. Stephens reaffirmed an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Canaccord Genuity Group upped their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Lake Street Capital boosted their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank raised their price objective on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Finally, BTIG Research boosted their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and a consensus price target of $37.88.

Castle Biosciences Trading Up 4.8 %

NASDAQ:CSTL opened at $32.66 on Thursday. Castle Biosciences has a 1 year low of $16.20 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The stock has a fifty day moving average price of $30.78 and a two-hundred day moving average price of $25.72. The stock has a market capitalization of $901.64 million, a price-to-earnings ratio of 163.30 and a beta of 0.99.

Insider Buying and Selling at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now directly owns 8,550 shares in the company, valued at $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the transaction, the director now owns 8,550 shares of the company’s stock, valued at $227,857.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Derek J. Maetzold sold 1,972 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $32.27, for a total transaction of $63,636.44. Following the transaction, the insider now directly owns 91,664 shares in the company, valued at $2,957,997.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,694 shares of company stock worth $563,497. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its position in Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after buying an additional 4,383 shares during the period. Assetmark Inc. lifted its holdings in shares of Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after acquiring an additional 748 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after acquiring an additional 2,093 shares during the last quarter. First Bank & Trust acquired a new stake in shares of Castle Biosciences in the third quarter worth approximately $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after purchasing an additional 952 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.