Veracyte (NASDAQ:VCYT) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Friday.
Several other equities research analysts have also commented on the stock. BTIG Research set a $13.00 price target on shares of Veracyte and gave the company a “buy” rating in a report on Monday, November 20th. Janney Montgomery Scott lowered shares of Veracyte from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Zacks Investment Research lowered shares of Veracyte from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Piper Jaffray Companies lowered shares of Veracyte from an “overweight” rating to a “neutral” rating in a research note on Tuesday, November 7th. Finally, Leerink Swann reduced their price objective on shares of Veracyte from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.85.
Shares of Veracyte (NASDAQ:VCYT) opened at $6.28 on Friday. Veracyte has a twelve month low of $5.75 and a twelve month high of $9.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its stake in shares of Veracyte by 16.8% during the 2nd 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 in the last quarter. JPMorgan Chase & Co. acquired a new position in Veracyte during the 3rd quarter valued at approximately $160,000. The Manufacturers Life Insurance Company increased its stake in Veracyte by 52.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,961 shares of the biotechnology company’s stock valued at $191,000 after purchasing an additional 7,867 shares in the last quarter. Rhumbline Advisers increased its stake in Veracyte by 54.2% during the 2nd quarter. Rhumbline Advisers now owns 24,749 shares of the biotechnology company’s stock valued at $206,000 after purchasing an additional 8,702 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Veracyte by 104.9% during the 2nd quarter. New York State Common Retirement Fund now owns 25,200 shares of the biotechnology company’s stock valued at $210,000 after purchasing an additional 12,899 shares in the last quarter. Hedge funds and other institutional investors own 69.47% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Veracyte (VCYT) Lowered to Strong Sell at ValuEngine” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/04/veracyte-vcyt-lowered-to-strong-sell-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Veracyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte and related companies with MarketBeat.com's FREE daily email newsletter.