Veracyte (NASDAQ:VCYT) Issues Q1 2021 Earnings Guidance


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Veracyte (NASDAQ:VCYT) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $36 million-$37 million, compared to the consensus revenue estimate of $32.03 million.

A number of analysts have recently weighed in on VCYT shares. Needham & Company LLC reaffirmed a buy rating and issued a $88.00 target price on shares of Veracyte in a research report on Wednesday, April 14th. Morgan Stanley boosted their target price on Veracyte from $35.00 to $65.00 and gave the stock an underweight rating in a report on Thursday, February 25th. Truist began coverage on shares of Veracyte in a research report on Wednesday, January 27th. They set a buy rating and a $61.00 price objective on the stock. SVB Leerink reduced their target price on Veracyte from $85.00 to $75.00 and set an outperform rating for the company in a report on Tuesday, April 27th. Finally, Zacks Investment Research cut shares of Veracyte from a hold rating to a sell rating in a report on Wednesday, April 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $63.38.

Shares of VCYT stock traded down $0.75 during mid-day trading on Tuesday, hitting $45.24. The company had a trading volume of 82,742 shares, compared to its average volume of 942,339. The company has a market capitalization of $3.04 billion, a P/E ratio of -64.90 and a beta of 0.77. The stock’s 50 day moving average price is $51.24 and its 200-day moving average price is $52.79. Veracyte has a 52-week low of $22.69 and a 52-week high of $86.03.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, February 17th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). Veracyte had a negative net margin of 30.46% and a negative return on equity of 12.27%. The firm had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $34.53 million. As a group, equities analysts expect that Veracyte will post -0.61 earnings per share for the current year.

In related news, insider Giulia C. Kennedy sold 52,015 shares of the firm’s stock in a transaction on Thursday, March 4th. The shares were sold at an average price of $49.36, for a total value of $2,567,460.40. Following the completion of the transaction, the insider now directly owns 80,082 shares of the company’s stock, valued at $3,952,847.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.30% of the stock is owned by corporate insiders.

About Veracyte

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to identify patients with benign thyroid nodules among those with indeterminate cytopathology results in order to rule out unnecessary thyroid surgery; Percepta Genomic Sequencing Classifier for lung cancer diagnosis; Envisia Genomic Classifier that help physicians to differentiate idiopathic pulmonary fibrosis from other interstitial lung diseases without the need for surgery; and Prosigna Breast Cancer Prognostic Gene Signature Assay test that informs next steps for patients with early-stage breast cancer, as well as provides cancer subtype classification information.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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