Veracyte Inc. (VCYT) Upgraded to “Buy” by Janney Montgomery Scott
VCYT has been the subject of a number of other research reports. Zacks Investment Research cut shares of Veracyte from a hold rating to a sell rating in a research report on Thursday, October 6th. William Blair restated an outperform rating on shares of Veracyte in a research report on Tuesday, October 18th. Cantor Fitzgerald set a $13.00 price objective on shares of Veracyte and gave the company a buy rating in a research report on Thursday, September 8th. Leerink Swann restated an outperform rating and issued a $12.00 price objective on shares of Veracyte in a research report on Monday, November 14th. Finally, Piper Jaffray Cos. restated an overweight rating and issued a $10.00 price objective (down previously from $12.00) on shares of Veracyte in a research report on Thursday, August 4th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $10.55.
Veracyte (NASDAQ:VCYT) opened at 7.83 on Tuesday. The company’s market capitalization is $218.85 million. Veracyte has a 1-year low of $4.21 and a 1-year high of $8.45. The stock has a 50 day moving average price of $7.44 and a 200-day moving average price of $6.08.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.16. Veracyte had a negative net margin of 57.45% and a negative return on equity of 88.36%. The business earned $18.60 million during the quarter, compared to analysts’ expectations of $15.76 million. During the same quarter in the prior year, the company earned ($0.32) EPS. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. Equities analysts predict that Veracyte will post ($1.26) earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased 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 in the last quarter. Strs Ohio increased its position in Veracyte by 638.5% in the third quarter. Strs Ohio now owns 14,031 shares of the company’s stock worth $106,000 after buying an additional 12,131 shares in the last quarter. Kopp Investment Advisors LLC increased its position in Veracyte by 55.7% in the second quarter. Kopp Investment Advisors LLC now owns 21,975 shares of the company’s stock worth $111,000 after buying an additional 7,860 shares in the last quarter. Royce & Associates LP acquired a new position in Veracyte during the second quarter worth approximately $136,000. Finally, California State Teachers Retirement System increased its position in Veracyte by 2.1% in the second quarter. California State Teachers Retirement System now owns 29,387 shares of the company’s stock worth $148,000 after buying an additional 600 shares in the last quarter. Institutional investors own 47.49% of the company’s stock.
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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