Equities research analysts expect Veracyte, Inc. (NASDAQ:VCYT) to report earnings of ($0.21) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Veracyte’s earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.23). Veracyte posted earnings per share of ($0.20) during the same quarter last year, which would suggest a negative year-over-year growth rate of 5%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Veracyte will report full year earnings of ($0.85) per share for the current financial year, with EPS estimates ranging from ($0.87) to ($0.82). For the next year, analysts anticipate that the firm will report earnings of ($0.60) per share, with EPS estimates ranging from ($0.61) to ($0.57). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Veracyte.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Monday, July 31st. The biotechnology company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.03. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $18.32 million. Veracyte had a negative return on equity of 53.58% and a negative net margin of 35.64%. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.40) earnings per share.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a report on Friday, August 4th. ValuEngine lowered Veracyte from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Piper Jaffray Companies restated a “buy” rating on shares of Veracyte in a report on Tuesday, September 12th. BidaskClub upgraded Veracyte from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, BTIG Research restated a “buy” rating and issued a $13.00 target price on shares of Veracyte in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Veracyte has an average rating of “Buy” and a consensus price target of $12.45.

Shares of Veracyte (VCYT) traded up 2.74% during midday trading on Wednesday, hitting $8.26. The stock had a trading volume of 36,695 shares. The company’s 50-day moving average price is $8.10 and its 200-day moving average price is $8.27. The firm’s market cap is $279.96 million. Veracyte has a 12-month low of $5.82 and a 12-month high of $9.71.

In other news, Director Evan/ Fa Jones sold 22,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $7.81, for a total value of $175,725.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 82,500 shares of company stock worth $649,325 over the last ninety days. 13.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Veracyte by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 61,312 shares of the biotechnology company’s stock worth $563,000 after acquiring an additional 1,795 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Veracyte by 16.8% in the second quarter. Nationwide Fund Advisors now owns 13,235 shares of the biotechnology company’s stock worth $110,000 after acquiring an additional 1,908 shares during the last quarter. Birchview Capital LP increased its stake in shares of Veracyte by 4.2% in the second quarter. Birchview Capital LP now owns 98,767 shares of the biotechnology company’s stock worth $823,000 after acquiring an additional 4,000 shares during the last quarter. Denver Investment Advisors LLC increased its stake in shares of Veracyte by 6.6% in the second quarter. Denver Investment Advisors LLC now owns 82,193 shares of the biotechnology company’s stock worth $685,000 after acquiring an additional 5,115 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Veracyte by 26.1% in the second quarter. Strs Ohio now owns 37,200 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 7,700 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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