Shares of Veracyte, Inc. (NASDAQ:VCYT – Get Free Report) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $31.25.
VCYT has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC increased their price objective on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.
View Our Latest Report on Veracyte
Insider Buying and Selling at Veracyte
Institutional Trading of Veracyte
Large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Veracyte by 2,331.6% during the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after buying an additional 1,329 shares during the period. CWM LLC boosted its holdings in Veracyte by 168.3% in the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Veracyte during the 2nd quarter worth approximately $58,000. Signature Resources Capital Management LLC purchased a new position in shares of Veracyte during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Veracyte in the 2nd quarter valued at approximately $85,000.
Veracyte Price Performance
VCYT stock opened at $34.26 on Tuesday. The business’s 50-day moving average is $28.91 and its two-hundred day moving average is $23.94. The firm has a market capitalization of $2.62 billion, a P/E ratio of -36.45 and a beta of 1.66. Veracyte has a 1 year low of $18.61 and a 1 year high of $35.51.
Veracyte (NASDAQ:VCYT – Get Free Report) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $100.27 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, analysts expect that Veracyte will post 0.16 EPS for the current year.
Veracyte Company Profile
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.
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