Veracyte, Inc. (VCYT) Receives $11.25 Consensus PT from Analysts

Veracyte, Inc. (VCYT) Receives $11.25 Consensus PT from Analysts

Veracyte, Inc. (NASDAQ:VCYT) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.25.

VCYT has been the subject of several research analyst reports. Janney Montgomery Scott upgraded Veracyte from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 29th. Cantor Fitzgerald set a $13.00 target price on Veracyte and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Leerink Swann restated a “buy” rating and set a $12.00 target price on shares of Veracyte in a research report on Tuesday, November 22nd. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, December 20th. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 18th.

Veracyte (NASDAQ:VCYT) opened at 7.43 on Friday. The company has a 50 day moving average price of $7.53 and a 200-day moving average price of $6.76. Veracyte has a 52-week low of $4.21 and a 52-week high of $8.45. The firm’s market cap is $207.67 million.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.16. Veracyte had a negative return on equity of 88.36% and a negative net margin of 57.45%. The firm earned $18.60 million during the quarter, compared to the consensus estimate of $15.76 million. During the same quarter in the previous year, the company posted ($0.32) EPS. The business’s revenue for the quarter was up 50.7% compared to the same quarter last year. Equities research analysts anticipate that Veracyte will post ($1.23) EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC bought a new stake in Veracyte during the third quarter worth approximately $2,897,000. Northern Trust Corp boosted its position in Veracyte by 16.3% in the third quarter. Northern Trust Corp now owns 176,959 shares of the company’s stock worth $1,347,000 after buying an additional 24,749 shares during the last quarter. California State Teachers Retirement System boosted its position in Veracyte by 1.0% in the third quarter. California State Teachers Retirement System now owns 29,687 shares of the company’s stock worth $226,000 after buying an additional 300 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Veracyte by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 140,935 shares of the company’s stock worth $1,073,000 after buying an additional 2,660 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Veracyte by 1.1% in the third quarter. Rhumbline Advisers now owns 13,143 shares of the company’s stock worth $100,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 47.69% of the company’s stock.

About Veracyte

Veracyte, Inc is a molecular diagnostics company. The Company is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Company targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.

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