-$0.25 Earnings Per Share Expected for Veracyte, Inc. (NASDAQ:VCYT) This Quarter
Analysts expect Veracyte, Inc. (NASDAQ:VCYT) to report ($0.25) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Veracyte’s earnings. The highest EPS estimate is ($0.22) and the lowest is ($0.27). Veracyte reported earnings per share of ($0.40) in the same quarter last year, which would suggest a positive year-over-year growth rate of 37.5%. The business is scheduled to report its next earnings report after the market closes on Monday, July 31st.
On average, analysts expect that Veracyte will report full year earnings of ($0.92) per share for the current fiscal year, with EPS estimates ranging from ($0.98) to ($0.84). For the next fiscal year, analysts expect that the company will report earnings of ($0.67) per share, with EPS estimates ranging from ($0.88) to ($0.58). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Veracyte.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.24) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.24). Veracyte had a negative net margin of 43.40% and a negative return on equity of 66.79%. The business had revenue of $16.43 million for the quarter, compared to analysts’ expectations of $18.09 million.
Several research firms have recently issued reports on VCYT. Cantor Fitzgerald set a $13.00 target price on shares of Veracyte and gave the stock a “buy” rating in a report on Thursday, May 18th. BidaskClub lowered shares of Veracyte from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $15.00 price objective on shares of Veracyte in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.83.
Veracyte (NASDAQ VCYT) opened at 8.11 on Thursday. Veracyte has a 12 month low of $4.82 and a 12 month high of $9.71. The company’s market cap is $274.69 million. The company has a 50-day moving average of $7.98 and a 200 day moving average of $8.16.
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Large investors have recently made changes to their positions in the stock. Cannell Capital LLC raised its stake in shares of Veracyte by 48.4% in the first quarter. Cannell Capital LLC now owns 1,601,960 shares of the biotechnology company’s stock worth $14,706,000 after buying an additional 522,373 shares during the last quarter. Cortina Asset Management LLC bought a new stake in shares of Veracyte during the first quarter worth $4,640,000. Renaissance Technologies LLC raised its stake in shares of Veracyte by 85.6% in the first quarter. Renaissance Technologies LLC now owns 402,600 shares of the biotechnology company’s stock worth $3,696,000 after buying an additional 185,700 shares during the last quarter. TFS Capital LLC raised its stake in shares of Veracyte by 901.4% in the first quarter. TFS Capital LLC now owns 107,521 shares of the biotechnology company’s stock worth $987,000 after buying an additional 96,784 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in shares of Veracyte during the first quarter worth $624,000. Institutional investors own 63.18% of the company’s stock.
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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