Veracyte, Inc. (NASDAQ:VCYT) has been given a $13.00 target price by BTIG Research in a research report issued to clients and investors on Monday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s target price would suggest a potential upside of 103.13% from the company’s current price.

VCYT has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Veracyte from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research note on Friday, August 4th. ValuEngine downgraded shares of Veracyte from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Piper Jaffray Companies reiterated a “buy” rating on shares of Veracyte in a research note on Tuesday, September 12th. BidaskClub upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Leerink Swann dropped their price objective on shares of Veracyte from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $11.85.

Veracyte (NASDAQ:VCYT) opened at $6.40 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19. Veracyte has a one year low of $5.75 and a one year high of $9.80.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.21). Veracyte had a negative net margin of 40.24% and a negative return on equity of 62.37%. The firm had revenue of $17.50 million for the quarter, compared to the consensus estimate of $19.54 million. During the same period last year, the firm earned ($0.20) earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. equities analysts forecast that Veracyte will post -0.87 earnings per share for the current year.

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In other Veracyte news, Director Evan/ Fa Jones sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $7.88, for a total value of $315,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bonnie H. Anderson sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $9.09, for a total transaction of $54,540.00. Following the completion of the sale, the chief executive officer now owns 16,000 shares of the company’s stock, valued at $145,440. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,500 shares of company stock valued at $1,085,065. 13.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Veracyte by 8.1% in the second quarter. Vanguard Group Inc. now owns 892,378 shares of the biotechnology company’s stock valued at $7,434,000 after acquiring an additional 66,518 shares in the last quarter. Stonepine Capital Management LLC boosted its stake in Veracyte by 49.5% in the second quarter. Stonepine Capital Management LLC now owns 864,695 shares of the biotechnology company’s stock valued at $7,203,000 after acquiring an additional 286,495 shares in the last quarter. First Light Asset Management LLC raised its holdings in shares of Veracyte by 4.7% in the second quarter. First Light Asset Management LLC now owns 754,560 shares of the biotechnology company’s stock worth $6,285,000 after buying an additional 33,682 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Veracyte by 85.6% in the first quarter. Renaissance Technologies LLC now owns 402,600 shares of the biotechnology company’s stock worth $3,696,000 after buying an additional 185,700 shares during the last quarter. Finally, Axiom International Investors LLC DE raised its holdings in shares of Veracyte by 56.9% in the third quarter. Axiom International Investors LLC DE now owns 388,328 shares of the biotechnology company’s stock worth $3,406,000 after buying an additional 140,783 shares during the last quarter. Institutional investors own 69.03% of the company’s stock.

About Veracyte

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

Analyst Recommendations for Veracyte (NASDAQ:VCYT)

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