Leerink Partnrs Issues Optimistic Forecast for CSTL Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Stock analysts at Leerink Partnrs raised their Q4 2024 earnings estimates for shares of Castle Biosciences in a report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings of $0.11 per share for the quarter, up from their previous forecast of $0.02. The consensus estimate for Castle Biosciences’ current full-year earnings is $0.38 per share. Leerink Partnrs also issued estimates for Castle Biosciences’ Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.36) EPS, FY2025 earnings at ($1.16) EPS and FY2026 earnings at ($1.06) EPS.

A number of other research analysts have also weighed in on the stock. KeyCorp raised their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a report on Thursday, January 2nd. Scotiabank raised their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. 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 report on Tuesday, October 29th. Finally, BTIG Research increased their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Trading Down 0.5 %

Shares of Castle Biosciences stock opened at $26.50 on Thursday. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $742.27 million, a P/E ratio of 132.51 and a beta of 0.92. The stock has a fifty day simple moving average of $28.66 and a 200 day simple moving average of $28.18. Castle Biosciences has a 12-month low of $16.97 and a 12-month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same period last year, the firm earned ($0.26) earnings per share.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $34.15, for a total transaction of $67,343.80. Following the completion of the sale, the insider now owns 87,720 shares of the company’s stock, valued at $2,995,638. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the sale, the insider now owns 54,178 shares of the company’s stock, valued at $1,926,569.68. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,306 shares of company stock worth $1,063,756. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

A number of large investors have recently made changes to their positions in CSTL. Algert Global LLC increased its position in Castle Biosciences by 0.4% during the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after purchasing an additional 599 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Castle Biosciences by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after purchasing an additional 675 shares in the last quarter. Assetmark Inc. raised its holdings in 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 purchasing an additional 748 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in Castle Biosciences by 3.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock valued at $690,000 after acquiring an additional 845 shares during the period. Finally, Quest Partners LLC boosted its stake in Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after acquiring an additional 1,522 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.