Veracyte Price Target Lowered to $20.00 at Leerink Swann (VCYT)
Investment analysts at Leerink Swann cut their target price on shares of Veracyte (NASDAQ:VCYT) from $23.00 to $20.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Leerink Swann’s price target indicates a potential upside of 36.43% from the stock’s previous close.
VCYT has been the subject of a number of other 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. Six research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $20.80.
Shares of Veracyte (NASDAQ:VCYT) opened at 14.65 on Thursday. Veracyte has a 1-year low of $10.88 and a 1-year high of $19.00. The stock’s 50-day moving average is $15.03 and its 200-day moving average is $14.99. The company’s market cap is $310.2 million.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02. The company had revenue of $8.70 million for the quarter, compared to the consensus estimate of $9.36 million. Analysts expect that Veracyte will post $-1.29 EPS for the current fiscal year.
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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