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

Shares of Veracyte, Inc. (NASDAQ:VCYT) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.80.

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

Veracyte Trading Up 1.7 %

Shares of VCYT stock traded up $0.59 on Wednesday, hitting $34.66. 52,336 shares of the stock were exchanged, compared to its average volume of 764,040. The business has a 50-day moving average of $32.13 and a 200 day moving average of $25.26. Veracyte has a fifty-two week low of $18.61 and a fifty-two week high of $35.51. The firm has a market capitalization of $2.65 billion, a P/E ratio of -36.87 and a beta of 1.67.

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

Insider Transactions at Veracyte

In related news, Director Evan/ Fa Jones sold 5,173 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total value of $182,244.79. Following the transaction, the director now owns 34,343 shares in the company, valued at approximately $1,209,903.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 34,343 shares in the company, valued at $1,209,903.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Leite sold 5,479 shares of the stock in a transaction on 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,141 shares of company stock worth $1,180,116. 1.30% of the stock is owned by insiders.

Institutional Trading of Veracyte

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of Veracyte by 2,331.6% during the 2nd quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 1,329 shares in the last quarter. CWM LLC raised its position 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 purchasing an additional 951 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Veracyte during the second quarter worth about $58,000. Signature Resources Capital Management LLC bought a new stake in Veracyte during the second quarter valued at $83,000. Finally, nVerses Capital LLC acquired a new stake in Veracyte during the 2nd quarter worth about $85,000.

Veracyte Company Profile

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.