Veracyte Inc. (VCYT) Given a $13.00 Price Target at Cantor Fitzgerald
VCYT has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Veracyte from a hold rating to a sell rating in a research note on Thursday, October 6th. William Blair reissued an outperform rating on shares of Veracyte in a research note on Tuesday, October 18th. Leerink Swann reissued an outperform rating and set a $12.00 target price on shares of Veracyte in a research note on Monday, November 14th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $10.00 target price (down previously from $12.00) on shares of Veracyte in a research note on Thursday, August 4th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Veracyte has a consensus rating of Buy and a consensus target price of $10.55.
Veracyte (NASDAQ:VCYT) traded up 0.80% during trading on Tuesday, reaching $7.58. 51,832 shares of the company’s stock were exchanged. Veracyte has a 1-year low of $4.21 and a 1-year high of $8.45. The company’s 50-day moving average is $7.44 and its 200-day moving average is $6.03. The company’s market capitalization is $211.86 million.
Veracyte (NASDAQ:VCYT) last issued its earnings results on Thursday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.16. The company earned $18.60 million during the quarter, compared to analyst estimates of $15.76 million. Veracyte had a negative net margin of 57.45% and a negative return on equity of 88.36%. The company’s revenue for the quarter was up 50.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.32) EPS. Equities research analysts expect that Veracyte will post ($1.25) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Grandeur Peak Global Advisors LLC increased its position in shares of Veracyte by 28.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 566,636 shares of the company’s stock valued at $2,850,000 after buying an additional 126,125 shares during the period. Vanguard Group Inc. increased its position in shares of Veracyte by 60.8% in the second quarter. Vanguard Group Inc. now owns 526,438 shares of the company’s stock valued at $2,648,000 after buying an additional 199,073 shares during the period. Cannell Capital LLC purchased a new position in shares of Veracyte during the third quarter valued at approximately $2,897,000. BlackRock Fund Advisors increased its position in shares of Veracyte by 1.9% in the second quarter. BlackRock Fund Advisors now owns 361,743 shares of the company’s stock valued at $1,820,000 after buying an additional 6,891 shares during the period. Finally, Stonepine Capital Management LLC purchased a new position in shares of Veracyte during the second quarter valued at approximately $940,000. Hedge funds and other institutional investors own 47.49% of the company’s stock.
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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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