Leerink Partnrs Has Optimistic Outlook of CSTL Q4 Earnings

Castle Biosciences, Inc. (NASDAQ:CSTL) – Equities researchers at Leerink Partnrs increased their Q4 2024 earnings estimates for Castle Biosciences in a research report issued to clients and 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 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.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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 net margin of 1.95% and a return on equity of 1.47%. During the same quarter in the prior year, the business earned ($0.26) EPS.

CSTL has been the subject of a number of other reports. BTIG Research boosted their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group increased their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Lake Street Capital lifted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. KeyCorp raised their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Scotiabank boosted 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 currently has a consensus rating of “Buy” and a consensus target price of $40.29.

Castle Biosciences Price Performance

Shares of Castle Biosciences stock opened at $26.50 on Thursday. The stock has a market cap of $742.27 million, a P/E ratio of 132.51 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 stock’s fifty day moving average is $28.66 and its 200 day moving average is $28.18. Castle Biosciences has a one year low of $16.97 and a one year high of $35.84.

Institutional Trading of Castle Biosciences

Hedge funds have recently added to or reduced their stakes in the company. Oak Harvest Investment Services purchased a new position in Castle Biosciences in the 4th quarter valued at about $206,000. R Squared Ltd purchased a new stake in shares of Castle Biosciences during the 4th quarter valued at approximately $42,000. Inspire Investing LLC grew its holdings in shares of Castle Biosciences by 7.6% during the 4th quarter. Inspire Investing LLC now owns 45,750 shares of the company’s stock worth $1,219,000 after purchasing an additional 3,234 shares during the period. Green Alpha Advisors LLC purchased a new position in Castle Biosciences during the fourth quarter worth about $249,000. Finally, JPMorgan Chase & Co. increased its holdings in Castle Biosciences by 165.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock valued at $1,980,000 after purchasing an additional 43,241 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Castle Biosciences

In related 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 sale, the insider now owns 54,178 shares in the company, valued at $1,926,569.68. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Frank Stokes sold 6,923 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the completion of the sale, the chief financial officer now owns 30,823 shares in the company, valued at $922,532.39. The trade was a 18.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,306 shares of company stock valued at $1,063,756. Corporate insiders own 7.20% 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.