Veracyte Inc. (NASDAQ:VCYT) – Investment analysts at Leerink Swann issued their Q1 2018 earnings per share estimates for shares of Veracyte in a report released on Tuesday. Leerink Swann analyst P. Souda expects that the brokerage will post earnings per share of ($0.20) for the quarter. Leerink Swann currently has a “Buy” rating and a $12.00 price objective on the stock. Leerink Swann also issued estimates for Veracyte’s Q2 2018 earnings at ($0.18) EPS and Q3 2018 earnings at ($0.13) EPS.

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

Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

Several other equities analysts have also commented on VCYT. Piper Jaffray Cos. reiterated an “overweight” rating and set a $10.00 price objective (down from $12.00) on shares of Veracyte in a research report on Thursday, August 4th. Cantor Fitzgerald set a $13.00 price target on Veracyte and gave the stock a “buy” rating in a research report on Thursday, September 8th. Zacks Investment Research lowered Veracyte from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 18th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $10.55.

Shares of Veracyte (NASDAQ:VCYT) opened at 7.73 on Wednesday. Veracyte has a 12-month low of $4.21 and a 12-month high of $8.45. The stock’s 50 day moving average price is $7.44 and its 200 day moving average price is $6.04. The company’s market cap is $216.05 million.

A number of large investors have recently added to or reduced their stakes in VCYT. Bank of New York Mellon Corp boosted its stake in Veracyte by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 45,806 shares of the company’s stock valued at $231,000 after buying an additional 3,955 shares during the period. California State Teachers Retirement System boosted its stake in Veracyte by 2.1% in the second quarter. California State Teachers Retirement System now owns 29,387 shares of the company’s stock valued at $148,000 after buying an additional 600 shares during the period. Royce & Associates LP acquired a new stake in Veracyte during the second quarter valued at $136,000. Vanguard Group Inc. boosted its stake in 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. Finally, Stonepine Capital Management LLC acquired a new stake in Veracyte during the second quarter valued at $940,000. Institutional investors and hedge funds own 47.49% of the company’s stock.

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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.

5 Day Chart for NASDAQ:VCYT

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