A number of other research analysts have also recently commented on VCYT. Cantor Fitzgerald reissued a buy rating and issued a $13.00 price target on shares of Veracyte in a report on Wednesday, June 29th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $10.00 price objective (down from $12.00) on shares of Veracyte in a report on Thursday, August 4th. Leerink Swann reaffirmed a buy rating on shares of Veracyte in a report on Thursday, June 23rd. Finally, Zacks Investment Research cut Veracyte from a hold rating to a sell rating in a report on Thursday, October 6th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $9.70.
Shares of Veracyte (NASDAQ:VCYT) opened at 7.75 on Tuesday. The company’s market cap is $215.95 million. The company has a 50-day moving average of $7.02 and a 200 day moving average of $5.70. Veracyte has a 12-month low of $4.21 and a 12-month high of $8.19.
Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.07. Veracyte had a negative return on equity of 82.26% and a negative net margin of 70.10%. The business earned $14.68 million during the quarter, compared to analysts’ expectations of $14.80 million. During the same period in the prior year, the firm posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, equities research analysts expect that Veracyte will post ($1.47) EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in VCYT. Grandeur Peak Global Advisors LLC raised its stake in Veracyte by 28.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 566,636 shares of the company’s stock valued at $2,850,000 after buying an additional 126,125 shares during the last quarter. Vanguard Group Inc. raised 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 last quarter. BlackRock Fund Advisors raised its stake in Veracyte by 1.9% in the second quarter. BlackRock Fund Advisors now owns 361,743 shares of the company’s stock valued at $1,820,000 after buying an additional 6,891 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in Veracyte during the second quarter valued at $940,000. Finally, State Street Corp raised its stake in Veracyte by 3.6% in the second quarter. State Street Corp now owns 146,503 shares of the company’s stock valued at $741,000 after buying an additional 5,109 shares during the last quarter. Institutional investors own 55.10% 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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