Needham & Company Assumes OncoCyte Corp (OCX) at Buy

Needham & Company analyst Mike Matson assumes coverage on OncoCyte Corp (NASDAQ: OCX) with a Buy rating and a price target of $8.00.

The analyst commented, "OCX missed consensus revenue in 4Q20 due to the COVID-19 resurgence and revenue declined 9.4% sequentially from 3Q20. OCX continues to make progress with the launch of DetermaRx and testing volume increased to 238 in 4Q20 from 175 in 3Q20 and it plans to launch DetermaIO and DetermaTx in 4Q21. We are assuming coverage of OCX with a Buy rating and a $8.00 target. We believe that OncoCyte has strong potential for long-term revenue growth associated with the commercialization of an expanding portfolio of advanced diagnostic tests focused on cancer."

For an analyst ratings summary and ratings history on OncoCyte Corp click here. For more ratings news on OncoCyte Corp click here.

Shares of OncoCyte Corp closed at $5.13 yesterday.

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