Castle Biosciences price target raised to $36 from $28 at KeyBanc

KeyBanc analyst Paul Knight raised the firm’s price target on Castle Biosciences (CSTL) to $36 from $28 and keeps an Overweight rating on the shares. While the determination of coverage for the SCC test will remain a focus, the firm notes the company continues to expand volume for other tests, with growth in IDgenetix and TissueCypher. Strength in these other tests contributed to the strong results for the quarter, as well as the increase in revenue guidance, KeyBanc adds.