Castle Biosciences beats Q2 revenue estimates, hikes forecast

The current average analyst rating on the shares is strong buy, with 9 strong buy or buy ratings, no hold ratings and no sell or strong sell ratings.

The median 12-month price target for Castle Biosciences Inc is $40.00, about 63.5% above its July 29 closing price of $24.46.

Revenue growth was driven by a 32% increase in test reports for DecisionDx-Melanoma and TissueCypher.

Lower volumes for DecisionDx-SCC and MyPath Melanoma reflected changes in Medicare coverage, commercial focus and the discontinuation of IDgenetix.

The company also cited recent clinical studies and regulatory approvals that supported the clinical impact and adoption of AdvanceAD-Tx and other tests.

Castle Biosciences raised its to , from .