Leerink Partnrs Issues Optimistic Estimate for CSTL Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Equities researchers at Leerink Partnrs raised their Q4 2024 earnings estimates for shares of Castle Biosciences in a research note issued to investors on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of $0.11 for the quarter, up from their prior estimate 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.

Other equities analysts have also issued reports about the stock. BTIG Research increased their price objective 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. Lake Street Capital raised their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. KeyCorp raised their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a research report on Thursday, January 2nd. Finally, Scotiabank raised their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $40.29.

Castle Biosciences Stock Down 0.4 %

NASDAQ:CSTL opened at $26.62 on Thursday. Castle Biosciences has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The stock has a market capitalization of $745.63 million, a P/E ratio of 133.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company’s 50-day simple moving average is $28.66 and its 200-day simple moving average is $28.18.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results 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 business had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same period last year, the business earned ($0.26) EPS.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Castle Biosciences by 147.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after buying an additional 98,571 shares during the period. Harbor Capital Advisors Inc. increased its stake in Castle Biosciences by 11.0% during the third quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock worth $4,389,000 after purchasing an additional 15,200 shares during the period. Barclays PLC increased its stake in Castle Biosciences by 310.7% during the third quarter. Barclays PLC now owns 52,301 shares of the company’s stock worth $1,491,000 after purchasing an additional 39,567 shares during the period. GSA Capital Partners LLP purchased a new stake in Castle Biosciences during the third quarter worth about $1,478,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Castle Biosciences by 16.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock worth $7,836,000 after purchasing an additional 39,417 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 1,972 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total transaction of $67,343.80. Following the transaction, the insider now owns 87,720 shares of the company’s stock, valued at approximately $2,995,638. The trade was a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now directly owns 54,178 shares in the company, valued at approximately $1,926,569.68. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,306 shares of company stock valued at $1,063,756 in the last 90 days. 7.20% of the stock is owned by insiders.

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.