Equities Analysts Offer Predictions for CSTL FY2024 Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) - Analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for Castle Biosciences in a note issued to investors on Monday, November 4th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings of $0.32 per share for the year, up from their previous estimate of ($0.69). The consensus estimate for Castle Biosciences' current full-year earnings is ($0.58) per share. Leerink Partnrs also issued estimates for Castle Biosciences' Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.37) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.44) EPS.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its 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 return on equity of 1.50% and a net margin of 1.95%. The firm had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same period in the prior year, the company posted ($0.26) EPS.

A number of other brokerages also recently weighed in on CSTL. Robert W. Baird upped their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Tuesday. Lake Street Capital upped their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday. Scotiabank lifted their price target on Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a research note on Wednesday. Stephens restated an "overweight" rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, August 6th. Finally, KeyCorp lifted their target price on Castle Biosciences from $28.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $37.88.

Castle Biosciences Price Performance

CSTL traded up $0.65 on Thursday, hitting $33.31. 386,069 shares of the stock were exchanged, compared to its average volume of 324,662. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92. Castle Biosciences has a 12 month low of $16.20 and a 12 month high of $35.84. The firm has a market capitalization of $919.69 million, a price-to-earnings ratio of 168.06 and a beta of 0.99. The business has a 50-day moving average of $30.78 and a two-hundred day moving average of $25.72.

Insider Buying and Selling at Castle Biosciences

In other news, insider Tobin W. Juvenal sold 3,507 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the transaction, the insider now owns 54,178 shares of the company's stock, valued at $1,926,569.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Tobin W. Juvenal sold 3,507 shares of the business's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total value of $124,708.92. Following the sale, the insider now owns 54,178 shares of the company's stock, valued at $1,926,569.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the transaction, the director now directly owns 8,550 shares of the company's stock, valued at approximately $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,201 shares of company stock worth $688,206. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Castle Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in Castle Biosciences by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock valued at $43,879,000 after acquiring an additional 40,377 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Castle Biosciences by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company's stock valued at $33,096,000 after purchasing an additional 32,695 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Castle Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company's stock valued at $17,631,000 after purchasing an additional 60,675 shares in the last quarter. Renaissance Technologies LLC grew its stake in Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company's stock worth $6,564,000 after purchasing an additional 96,800 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Castle Biosciences by 33.0% in the second quarter. Acadian Asset Management LLC now owns 280,497 shares of the company's stock worth $6,101,000 after purchasing an additional 69,673 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.