Veracyte Inc. (VCYT) Receives $10.55 Average PT from Brokerages
Shares of Veracyte Inc. (NASDAQ:VCYT) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.55.
VCYT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Cantor Fitzgerald set a $13.00 price target on shares of Veracyte and gave the stock a “buy” rating in a report on Thursday, September 8th. Piper Jaffray Cos. restated an “overweight” rating and set a $10.00 price target (down previously from $12.00) on shares of Veracyte in a report on Thursday, August 4th. Leerink Swann restated an “outperform” rating and set a $12.00 price target on shares of Veracyte in a report on Monday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 18th.
Several institutional investors have recently bought and sold shares of VCYT. 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. Strs Ohio boosted its position in shares of Veracyte by 638.5% in the third quarter. Strs Ohio now owns 14,031 shares of the company’s stock valued at $106,000 after buying an additional 12,131 shares in the last quarter. Kopp Investment Advisors LLC boosted its position in shares of Veracyte by 55.7% in the second quarter. Kopp Investment Advisors LLC now owns 21,975 shares of the company’s stock valued at $111,000 after buying an additional 7,860 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Veracyte during the second quarter valued at approximately $136,000. Finally, California State Teachers Retirement System boosted its position in shares of 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 in the last quarter. 47.49% of the stock is owned by hedge funds and other institutional investors.
Veracyte (NASDAQ:VCYT) opened at 7.73 on Tuesday. The firm’s market capitalization is $216.05 million. 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.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.16. The business earned $18.60 million during the quarter, compared to the consensus estimate of $15.76 million. Veracyte had a negative net margin of 57.45% and a negative return on equity of 88.36%. The business’s revenue was up 50.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) EPS. Equities analysts forecast that Veracyte will post ($1.26) earnings per share for the current year.
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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