Veracyte, Inc. (NASDAQ:VCYT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Veracyte, Inc. (NASDAQ:VCYT) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.67.

A number of brokerages have commented on VCYT. UBS Group began coverage on shares of Veracyte in a report on Wednesday, October 16th. They set a “buy” rating and a $43.00 price objective on the stock. Needham & Company LLC upped their target price on shares of Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Leerink Partners upped their target price on shares of Veracyte from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. Guggenheim started coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th.

Insiders Place Their Bets

In other Veracyte news, Director Jens Holstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $29.00, for a total transaction of $145,000.00. Following the sale, the director now directly owns 27,878 shares in the company, valued at approximately $808,462. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares of the company’s stock, valued at $2,268,461.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jens Holstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $29.00, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 27,878 shares of the company’s stock, valued at $808,462. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,141 shares of company stock worth $1,180,116. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Veracyte

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Veracyte by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after acquiring an additional 266,660 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Veracyte by 7.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock valued at $74,179,000 after buying an additional 242,760 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Veracyte by 46.3% in the first quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock valued at $24,726,000 after buying an additional 353,000 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Veracyte by 232.3% in the first quarter. Nordea Investment Management AB now owns 272,176 shares of the biotechnology company’s stock valued at $6,050,000 after buying an additional 190,262 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Veracyte by 21.2% in the first quarter. Sei Investments Co. now owns 142,604 shares of the biotechnology company’s stock valued at $3,160,000 after buying an additional 24,945 shares in the last quarter.

Veracyte Stock Up 0.4 %

Shares of NASDAQ:VCYT opened at $34.44 on Wednesday. Veracyte has a 12 month low of $18.61 and a 12 month high of $35.51. The company’s 50-day moving average price is $32.48 and its two-hundred day moving average price is $25.54. The firm has a market cap of $2.63 billion, a P/E ratio of -36.64 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The firm had revenue of $114.43 million for the quarter, compared to analyst estimates of $100.27 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue was up 26.7% on a year-over-year basis. As a group, equities analysts predict that Veracyte will post 0.16 earnings per share for the current fiscal year.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.