UPDATE: Aegis Capital Starts Biocept (BIOC) at Buy

(Updated - June 3, 2014 10:44 AM EDT)

Aegis Capital initiated coverage on Biocept (NASDAQ: BIOC) with a Buy rating and a price target of $16.00.

Analyst Yi Chen said, "Biocept is an emerging firm in the molecular diagnostics arena with a particular focus on the capture and analysis of circulating tumor cells (CTCs) and circulating tumor-associated DNA (ctDNA). In our view, the company possesses a highly differentiated technology platform permitting ultra-sensitive detection and enumeration of both CTCs and ctDNA from a molecular perspective. Biocept has already made available a novel diagnostic test panel for breast cancer, OncoCEE™-BR, which enables profiling of both HER2 receptor and estrogen receptor (ER) status. We believe that the firm's forward-integrated nature, with its own CLIA-compliant, CAP-accredited facility, should enable it to launch new tests starting in late 2014 and drive sales to levels that permit sustainable profitability beginning in mid- to late 2016."

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

Shares of Biocept closed at $4.71 yesterday.

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