Veracyte Inc. (VCYT) Stock Rating Reaffirmed by William Blair
Veracyte Inc. (NASDAQ:VCYT)‘s stock had its “outperform” rating reissued by equities research analysts at William Blair in a research report issued on Tuesday.
VCYT has been the topic of several other research reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $10.00 price objective (down previously from $12.00) on shares of Veracyte in a research report on Thursday, August 4th. Leerink Swann reaffirmed a “buy” rating on shares of Veracyte in a research report on Thursday, June 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $13.00 price objective on shares of Veracyte in a research report on Tuesday, June 21st. Finally, Zacks Investment Research downgraded Veracyte from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $9.70.
Shares of Veracyte (NASDAQ:VCYT) traded down 0.856% during mid-day trading on Tuesday, hitting $7.525. 22,416 shares of the company’s stock were exchanged. Veracyte has a 52 week low of $4.21 and a 52 week high of $8.19. The company’s market capitalization is $209.68 million. The firm has a 50 day moving average price of $6.96 and a 200-day moving average price of $5.68.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/veracyte-inc-vcyt-stock-rating-reaffirmed-by-william-blair.html
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.33) by $0.07. The business had revenue of $14.68 million for the quarter, compared to the consensus estimate 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 was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) EPS. On average, equities analysts anticipate that Veracyte will post ($1.47) EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Kopp Investment Advisors LLC increased its stake 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 valued at $111,000 after buying an additional 7,860 shares during the last quarter. Royce & Associates LP bought a new stake in shares of Veracyte during the second quarter valued at about $136,000. California State Teachers Retirement System increased its stake in shares of Veracyte by 2.1% in the second quarter. California State Teachers Retirement System now owns 29,387 shares of the company’s stock valued at $148,000 after buying an additional 600 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Veracyte by 110.9% in the first quarter. Renaissance Technologies LLC now owns 37,374 shares of the company’s stock valued at $202,000 after buying an additional 19,655 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Veracyte by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 45,806 shares of the company’s stock valued at $231,000 after buying an additional 3,955 shares during the last quarter. 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.
Receive News & Ratings for Veracyte Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte Inc. and related companies with MarketBeat.com's FREE daily email newsletter.