Veracyte, Inc. (NASDAQ:VCYT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Veracyte, Inc. (NASDAQ:VCYT) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $35.67.

Several equities research analysts have issued reports on VCYT shares. Guggenheim initiated coverage on Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target for the company. Leerink Partners lifted their target price on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley lifted their target price on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. UBS Group initiated coverage on Veracyte in a report on Wednesday, October 16th. They set a “buy” rating and a $43.00 target price for the company. Finally, Needham & Company LLC lifted their target price on Veracyte from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th.

Insider Activity at Veracyte

In related news, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares of the company’s stock, valued at $1,209,903.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Veracyte news, insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at $2,268,461.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total value of $182,244.79. Following the sale, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,141 shares of company stock valued at $1,180,116 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Veracyte

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 1,329 shares during the last quarter. CWM LLC boosted its holdings in Veracyte by 168.3% in the second quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Veracyte in the second quarter valued at approximately $58,000. Signature Resources Capital Management LLC acquired a new position in Veracyte in the second quarter valued at approximately $83,000. Finally, nVerses Capital LLC acquired a new position in Veracyte in the second quarter valued at approximately $85,000.

Veracyte Price Performance

Shares of Veracyte stock opened at $34.44 on Wednesday. The business has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $25.54. Veracyte has a 1 year low of $18.61 and a 1 year high of $35.51. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -36.64 and a beta of 1.67.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.10. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The business had revenue of $114.43 million during the quarter, compared to the consensus estimate of $100.27 million. During the same quarter last year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, equities analysts anticipate that Veracyte will post 0.16 earnings per share for the current fiscal year.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.