What to Expect from OncoCyte's Earnings

OncoCyte OCX is set to give its latest quarterly earnings report on Tuesday, 2024-11-12. Here's what investors need to know before the announcement.

Analysts estimate that OncoCyte will report an earnings per share (EPS) of $-0.44.

The market awaits OncoCyte's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.

It's important for new investors to understand that guidance can be a significant driver of stock prices.

Performance in Previous Earnings

Last quarter the company beat EPS by $0.20, which was followed by a 1.3% increase in the share price the next day.

Here's a look at OncoCyte's past performance and the resulting price change:

OncoCyte Share Price Analysis

Shares of OncoCyte were trading at $2.86 as of November 08. Over the last 52-week period, shares are down 12.87%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.

Analyst Views on OncoCyte

For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding OncoCyte.

OncoCyte has received a total of 1 ratings from analysts, with the consensus rating as Buy. With an average one-year price target of $4.25, the consensus suggests a potential 48.6% upside.

Comparing Ratings Among Industry Peers

This comparison focuses on the analyst ratings and average 1-year price targets of Clene and CollPlant Biotechnologies, three major players in the industry, shedding light on their relative performance expectations and market positioning.

• Clene is maintaining an Buy status according to analysts, with an average 1-year price target of $34.29, indicating a potential 1098.95% upside.
• As per analysts' assessments, CollPlant Biotechnologies is favoring an Buy trajectory, with an average 1-year price target of $12.5, suggesting a potential 337.06% upside.

Peer Analysis Summary

Within the peer analysis summary, vital metrics for Clene and CollPlant Biotechnologies are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

Key Takeaway:

OncoCyte ranks at the bottom for Revenue Growth among its peers. It also ranks at the bottom for Gross Profit. However, it ranks in the middle for Return on Equity.

Unveiling the Story Behind OncoCyte

OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancers. In addition, it also develops screening diagnostics as potential replacements for screening imaging procedures that do not meet the needs of patients, health care providers or payers.

Understanding the Numbers: OncoCyte's Finances

Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.

Negative Revenue Trend: Examining OncoCyte's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -77.54% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.

Net Margin: OncoCyte's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -4410.58%, the company may face hurdles in effective cost management.

Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -26.75%, the company showcases effective utilization of equity capital.

Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -6.3%, the company showcases effective utilization of assets.

Debt Management: OncoCyte's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.16.

To track all earnings releases for OncoCyte visit their earnings calendar on our site.

This article was generated by Benzinga's automated content engine and reviewed by an editor.