BTIG raised the firm’s price target on Castle Biosciences (CSTL) to $40 from $35 and keeps a Buy rating on the shares. The firm is citing its call with a key opinion leader Dr. Raman Muthusamy – GI doctor at UCLA – and came away with expectations for robust growth ahead for both the utility of Castle Biosciences’ TissueCypher test as well as the EsoGuard screening test from Lucid Diagnostics (LUCD) for years to come. According to Muthusamy, the prevalence of Barrett’s Esophagus in Americans is twice higher than what is reported, or 9M-10M Americans, who could be identified with higher screening rates from LUCD’s EsoGuard test, the analyst tells investors in a research note.

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