Leerink Partnrs Issues Optimistic Estimate for CSTL Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Equities researchers at Leerink Partnrs increased their FY2024 earnings estimates for Castle Biosciences in a research report issued to clients and investors on Monday, November 4th. Leerink Partnrs analyst P. Souda now expects that the company will post earnings per share of $0.32 for the year, up from their previous estimate 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.

Other equities analysts have also issued reports about the company. Scotiabank upped their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday. KeyCorp upped their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday. Canaccord Genuity Group raised their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BTIG Research upped their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.88.

Castle Biosciences Trading Up 2.0 %

NASDAQ CSTL opened at $33.31 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. Castle Biosciences has a one year low of $16.20 and a one year high of $35.84. The company has a 50-day simple moving average of $30.78 and a 200-day simple moving average of $25.72. The firm has a market capitalization of $919.69 million, a PE ratio of 168.06 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.50% and a net margin of 1.95%. The company had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same quarter last year, the firm earned ($0.26) EPS.

Institutional Trading of Castle Biosciences

Several large investors have recently made changes to their positions in the company. Quest Partners LLC raised its holdings in shares of Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after buying an additional 1,522 shares in the last quarter. US Bancorp DE raised its stake 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 acquiring an additional 4,383 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after acquiring an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 buying an additional 952 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Tobin W. Juvenal sold 3,507 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Castle Biosciences news, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares in the company, valued at $1,926,569.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was 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 approximately $2,957,997.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,201 shares of company stock valued at $688,206. Company insiders own 7.20% of the company’s stock.

Castle Biosciences Company Profile

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.