Leerink Partnrs Issues Optimistic Forecast for CSTL Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Research analysts at Leerink Partnrs increased their Q4 2024 earnings per share estimates for shares of Castle Biosciences in a report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now forecasts that the company will earn $0.11 per share for the quarter, up from their prior 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.

Several other equities analysts have also issued reports on the company. Stephens reiterated an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. BTIG Research increased their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird increased their price objective on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Scotiabank increased their price objective on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.29.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $26.44 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The stock has a 50-day moving average of $28.58 and a 200-day moving average of $28.17. Castle Biosciences has a one year low of $16.97 and a one year high of $35.84. The stock has a market cap of $740.58 million, a PE ratio of 132.21 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The company had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same period in the prior year, the business posted ($0.26) EPS.

Insider Activity at Castle Biosciences

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. 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 worth $3,831,000 after buying an additional 599 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Castle Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after purchasing an additional 604 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Castle Biosciences by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after purchasing an additional 675 shares during the period. Assetmark Inc. increased its position in shares of 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 during the period. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Castle Biosciences by 3.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock worth $690,000 after purchasing an additional 845 shares during the period. Institutional investors own 92.60% of the company’s stock.

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.