Leerink Partnrs Issues Optimistic Estimate for CSTL Earnings

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

A number of other equities analysts have also weighed in on the stock. KeyCorp upped 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. Scotiabank upped 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. BTIG Research upped their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Lake Street Capital upped their target price 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. Finally, Stephens restated an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Stock Performance

CSTL opened at $26.62 on Thursday. The firm has a market cap of $745.63 million, a P/E ratio of 133.11 and a beta of 0.92. Castle Biosciences has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a 50 day simple moving average of $28.66 and a two-hundred day simple moving average of $28.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data 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. The firm had revenue of $85.78 million for 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 previous year, the firm earned ($0.26) EPS.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.03, for a total value of $27,637.58. Following the sale, the insider now owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This represents a 1.21 % decrease in their ownership of the stock. 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 stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares in the company, valued at approximately $1,926,569.68. This represents 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 over the last 90 days. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CSTL. American Century Companies Inc. increased its stake in Castle Biosciences by 12.9% in the 2nd quarter. American Century Companies Inc. now owns 42,818 shares of the company’s stock worth $932,000 after buying an additional 4,898 shares during the period. Dimensional Fund Advisors LP increased its stake in Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after buying an additional 60,675 shares during the period. Renaissance Technologies LLC increased its stake in Castle Biosciences by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after buying an additional 96,800 shares during the period. XTX Topco Ltd purchased a new position in Castle Biosciences in the 2nd quarter worth about $218,000. Finally, Marshall Wace LLP increased its stake in Castle Biosciences by 116.5% in the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock worth $4,616,000 after buying an additional 114,104 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.