Veracyte Inc. (VCYT) Receives Outperform Rating from William Blair
Veracyte Inc. (NASDAQ:VCYT)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a research report issued on Tuesday.
A number of other equities research analysts also recently commented on the stock. Cantor Fitzgerald set a $13.00 price objective on shares of Veracyte and gave the company a “buy” rating in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of Veracyte from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. Leerink Swann restated a “buy” rating on shares of Veracyte in a research report on Thursday, June 23rd. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Veracyte in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.70.
Shares of Veracyte (NASDAQ:VCYT) opened at 7.59 on Tuesday. The stock has a 50 day moving average price of $6.96 and a 200-day moving average price of $5.68. Veracyte has a 52-week low of $4.21 and a 52-week high of $8.19. The stock’s market capitalization is $211.49 million.
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Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.07. The firm earned $14.68 million during the quarter, compared to analyst estimates of $14.80 million. Veracyte had a negative net margin of 70.10% and a negative return on equity of 82.26%. Veracyte’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. On average, equities research analysts predict that Veracyte will post ($1.47) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Grandeur Peak Global Advisors LLC increased 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 worth $2,850,000 after buying an additional 126,125 shares during the last quarter. Kopp Investment Advisors LLC boosted its position in shares of Veracyte by 55.7% in the second quarter. Kopp Investment Advisors LLC now owns 21,975 shares of the company’s stock worth $111,000 after buying an additional 7,860 shares during the period. State Street Corp boosted its position in shares of Veracyte by 3.6% in the second quarter. State Street Corp now owns 146,503 shares of the company’s stock worth $741,000 after buying an additional 5,109 shares during the period. Spark Investment Management LLC boosted its position in shares of Veracyte by 1.5% in the second quarter. Spark Investment Management LLC now owns 59,100 shares of the company’s stock worth $297,000 after buying an additional 900 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Veracyte by 1.9% in the second quarter. BlackRock Fund Advisors now owns 361,743 shares of the company’s stock worth $1,820,000 after buying an additional 6,891 shares during the period. Institutional investors own 55.10% of the company’s stock.
Veracyte Company Profile
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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