Shares of Veracyte, Inc. (NASDAQ:VCYT – Get Rating) have earned an average rating of "Moderate Buy" from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $42.50.
A number of research analysts have recently commented on the company. Raymond James raised their target price on Veracyte from $30.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, August 4th. Needham & Company LLC raised their target price on Veracyte from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, August 3rd.
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Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in shares of Veracyte by 25.0% in the second quarter. Legal & General Group Plc now owns 372,125 shares of the biotechnology company's stock worth $7,405,000 after purchasing an additional 74,329 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Veracyte by 121.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,049,845 shares of the biotechnology company's stock worth $20,892,000 after purchasing an additional 575,949 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Veracyte by 712.9% in the second quarter. Captrust Financial Advisors now owns 3,219 shares of the biotechnology company's stock worth $64,000 after purchasing an additional 2,823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Veracyte by 8.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,036 shares of the biotechnology company's stock worth $618,000 after purchasing an additional 2,537 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Veracyte in the second quarter worth $4,127,000.
Veracyte Stock Down 2.0 %
VCYT opened at $16.71 on Friday. The stock has a market cap of $1.20 billion, a PE ratio of -24.57 and a beta of 1.17. The business has a 50 day moving average of $22.74 and a 200-day moving average of $22.22. Veracyte has a 52 week low of $14.85 and a 52 week high of $54.13.Veracyte (NASDAQ:VCYT – Get Rating) last released its earnings results on Tuesday, August 2nd. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.08. The company had revenue of $72.86 million during the quarter, compared to analysts' expectations of $67.37 million. Veracyte had a negative return on equity of 4.05% and a negative net margin of 18.13%. Equities analysts anticipate that Veracyte will post -0.8 EPS for the current year.
About Veracyte
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Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.
Further Reading
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