Veracyte, Inc. (NASDAQ:VCYT) – Equities research analysts at Cantor Fitzgerald issued their FY2018 earnings per share (EPS) estimates for Veracyte in a note issued to investors on Friday. Cantor Fitzgerald analyst B. Brokmeier anticipates that the biotechnology company will post earnings of ($0.45) per share for the year. Cantor Fitzgerald currently has a “Buy” rating and a $13.00 price target on the stock.

Several other analysts have also recently issued reports on VCYT. Zacks Investment Research cut Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of Veracyte in a research report on Friday, March 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.20.

Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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Veracyte (VCYT) opened at 7.76 on Monday. The firm’s 50-day moving average price is $8.02 and its 200-day moving average price is $8.08. The stock’s market cap is $262.83 million. Veracyte has a 52 week low of $4.82 and a 52 week high of $9.71.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.24). The business had revenue of $16.43 million during the quarter, compared to analysts’ expectations of $18.09 million. Veracyte had a negative return on equity of 66.79% and a negative net margin of 43.40%.

Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in shares of Veracyte by 31.9% in the first quarter. Nationwide Fund Advisors now owns 11,327 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 2,739 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in shares of Veracyte during the first quarter valued at approximately $119,000. William Marsh Rice University acquired a new stake in shares of Veracyte during the first quarter valued at approximately $127,000. Highbridge Capital Management LLC acquired a new stake in shares of Veracyte during the fourth quarter valued at approximately $112,000. Finally, Bank of Montreal Can acquired a new stake in shares of Veracyte during the first quarter valued at approximately $138,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

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