Cancer Genetics Inc (CGIX) Expected to Announce Quarterly Sales of $9.45 Million

Equities analysts expect that Cancer Genetics Inc (NASDAQ:CGIX) will report sales of $9.45 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Cancer Genetics’ earnings. The lowest sales estimate is $9.00 million and the highest is $9.90 million. Cancer Genetics posted sales of $7.23 million during the same quarter last year, which suggests a positive year over year growth rate of 30.7%. The company is scheduled to report its next earnings report on Thursday, March 22nd.

On average, analysts expect that Cancer Genetics will report full-year sales of $9.45 million for the current year, with estimates ranging from $30.60 million to $31.49 million. For the next year, analysts anticipate that the business will report sales of $44.25 million per share, with estimates ranging from $40.00 million to $48.49 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cancer Genetics.

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A number of equities analysts recently issued reports on CGIX shares. HC Wainwright set a $6.00 target price on Cancer Genetics and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Zacks Investment Research upgraded Cancer Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. ValuEngine lowered Cancer Genetics from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Finally, Maxim Group started coverage on Cancer Genetics in a research note on Thursday, December 7th. They issued a “buy” rating and a $6.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Cancer Genetics presently has an average rating of “Hold” and a consensus target price of $5.56.

Cancer Genetics (CGIX) opened at $1.85 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 2.01. Cancer Genetics has a 52 week low of $1.55 and a 52 week high of $5.30.

A number of institutional investors and hedge funds have recently made changes to their positions in CGIX. Stonepine Capital Management LLC acquired a new stake in Cancer Genetics during the 4th quarter worth about $3,304,000. Vanguard Group Inc. grew its position in Cancer Genetics by 61.9% during the 2nd quarter. Vanguard Group Inc. now owns 516,785 shares of the medical research company’s stock worth $2,041,000 after purchasing an additional 197,619 shares during the period. Perkins Capital Management Inc. grew its position in Cancer Genetics by 22.7% during the 4th quarter. Perkins Capital Management Inc. now owns 989,700 shares of the medical research company’s stock worth $1,831,000 after purchasing an additional 183,000 shares during the period. Two Sigma Securities LLC grew its position in Cancer Genetics by 363.0% during the 4th quarter. Two Sigma Securities LLC now owns 67,677 shares of the medical research company’s stock worth $125,000 after purchasing an additional 53,061 shares during the period. Finally, Granahan Investment Management Inc. MA grew its position in Cancer Genetics by 26.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 237,431 shares of the medical research company’s stock worth $641,000 after purchasing an additional 49,371 shares during the period. 17.96% of the stock is currently owned by institutional investors.

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Cancer Genetics Company Profile

Cancer Genetics, Inc is a United States-based company, which is engaged in the field of personalized medicine. The Company offers diagnostic products and services that enable precision medicine in the field of oncology through molecular markers and diagnostics. The Company offers a range of laboratory services that provide genomic and biomarker information.

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