Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $41.13.
Several research firms recently issued reports on VCYT. Needham & Company LLC increased their price target on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wolfe Research began coverage on shares of Veracyte in a research note on Friday, November 15th. They issued an “outperform” rating and a $50.00 target price on the stock. StockNews.com raised shares of Veracyte from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Scotiabank raised their price objective on shares of Veracyte from $40.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Finally, Guggenheim assumed coverage on shares of Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective on the stock.
Check Out Our Latest Analysis on VCYT
Insider Activity at Veracyte
Institutional Investors Weigh In On Veracyte
A number of large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Veracyte during the 2nd quarter worth approximately $58,000. Castleview Partners LLC bought a new stake in shares of Veracyte in the 3rd quarter valued at about $87,000. Values First Advisors Inc. acquired a new position in shares of Veracyte in the third quarter worth approximately $91,000. KBC Group NV boosted its holdings in Veracyte by 13.7% in the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 323 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Veracyte by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 496 shares during the period.
Veracyte Stock Down 0.6 %
Shares of Veracyte stock opened at $43.81 on Friday. Veracyte has a 12-month low of $18.61 and a 12-month high of $46.00. The stock has a 50 day moving average price of $41.81 and a two-hundred day moving average price of $34.85. The stock has a market capitalization of $3.40 billion, a P/E ratio of -292.07 and a beta of 1.71.
Veracyte (NASDAQ:VCYT – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The business had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. Sell-side analysts anticipate that Veracyte will post 0.38 earnings per share for the current year.
Veracyte Company Profile
Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
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