Biocept, Inc. (NASDAQ: BIOC)
Looking over the past month, Biocept has had a pretty tough time in the market. After a steep climb on April 20th, the stock has fallen since; leading many investors to start asking the question, “When will BIOC bounce back?” Personally, as I’ve written throughout the week, I think the breakout is coming soon. Today, we’ll take a look at the stock’s chart and talk about when we’re likely to see a breakout; as well as talk about my long term expectations from biotech stock and whether or not it’s a good long term investment in my opinion.
From A Technical Standpoint: Looks Like A Breakout Is Coming Soon
Looking at the chart to the left, there are a few things that are clear. First off, there was a nice climb in the value of the stock on April 20th. Since then, we’ve seen steady downward movement when you set the volatility aside. Now, look at support and resistance. As you can see, resistance is falling. However, the support line is slowly rising. As a result, we’re seeing a smaller spread; so, at some point soon, BIOC has no choice but to break either support or resistance. Personally, I think it will breakout in the positive direction.
From A Fundamental Standpoint: Biocept Seems Like A Great Investment
When you look at the company from a fundamental standpoint, it’s hard to argue that BIOC has incredible potential for growth. First off, the management has proven their capability of getting things done. We’ve seen that with the two major announcements revolving around liquid biopsies that we’ve seen this month. Secondly, the product that BIOC offers is one that’s much needed in the medical field.
Biocept develops diagnostic blood testing technologies. Essentially, the company has found a way to detect cancer using a blood sample biopsy rather than a tissue sample. Most recently, Biocept announced the addition of a new test to it’s portfolio. The new test is designed to detect whether or not a patient is receptive to cancerous cells with a specific focus on lung cancer. So, essentially, Biocept has found a way to detect whether or not lung cancer is likely in a patient before it even happens. Considering that the amount of time diagnosis takes could mean the difference between life and death for lung cancer patients, this is a huge breakthrough in the industry of cancer treatments!
Another recent announcement the company made revolved around the result of it’s liquid biopsy for breast cancer. In the study, Biocept performed biopsies on several blood samples taken from women with a specific type of blood cancer. When comparing the results of the liquid biopsies to the results of traditional tissue biopsies, the results were identical; ultimately proving that BIOC had successfully found a way to detect breast cancer without the need for an invasive tissue biopsy.
The bottom line is that Biocept is a great company with a product that’s not only wanted, it’s needed. As a result of the advancements the company has made in the medical field, I have a feeling that early detection of cancer will be made possible for many patients; ultimately increasing the survival rate we see from the ailment. In my opinion, that’s incredibly valuable and BIOC stock will show just how valuable it is in the long run.
What Do You Think?
Where do you think BIOC is headed and why? Let us know in the comments below!