Veracyte (VCYT) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Veracyte (NASDAQ:VCYT) announced its earnings results on Wednesday. The company reported ($0.31) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.33) by $0.02, American Banking News reports. The company had revenue of $8.70 million for the quarter, compared to the consensus estimate of $9.36 million.
VCYT has been the subject of a number of recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of Veracyte in a research note on Thursday, June 26th. They set a “buy” rating and a $25.00 price target on the stock. Analysts at Piper Jaffray initiated coverage on shares of Veracyte in a research note on Thursday, June 19th. They set an “overweight” rating and a $21.00 price target on the stock. Five analysts have rated the stock with a buy rating, Veracyte has an average rating of “Buy” and a consensus price target of $21.40.
Veracyte (NASDAQ:VCYT) traded down 0.07% during mid-day trading on Wednesday, hitting $14.65. The stock had a trading volume of 95,866 shares. Veracyte has a 1-year low of $10.88 and a 1-year high of $19.00. The stock has a 50-day moving average of $15.09 and a 200-day moving average of $14.99. The company’s market cap is $310.2 million.
Veracyte, Inc is a diagnostics company focused on molecular cytology. The Company focuses on diseases that often require invasive procedures for an accurate diagnosis.
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