In a report released today, Michael Matson from Needham maintained a Buy rating on OncoCyte (OCX – Research Report), with a price target of $4.25.
Michael Matson has given his Buy rating due to a combination of factors discussed during the recent fireside chat with OncoCyte. One of the primary reasons is the promising launch of GraftAssure RUO, which is expected to enhance the company’s market position and drive future growth. Additionally, OncoCyte’s strategic plans for GraftAssureDx and their innovative cancer tests are anticipated to contribute positively to their revenue streams.
Furthermore, Matson considered the company’s current cash utilization strategies, which appear to be efficiently managed, ensuring financial stability. The overall outlook for OncoCyte, as presented at the conference, suggests a strong potential for expansion and profitability, justifying the Buy rating. These factors collectively indicate that OncoCyte is well-positioned to capitalize on upcoming opportunities in the healthcare sector.
According to TipRanks, Matson is an analyst with an average return of -9.0% and a 33.87% success rate. Matson covers the Healthcare sector, focusing on stocks such as Atricure, Hologic, and Masimo.
In another report released on March 28, Lake Street also initiated coverage with a Buy rating on the stock with a $5.00 price target.