UBS Group Raises Veracyte (NASDAQ:VCYT) Price Target to $46.00

Veracyte (NASDAQ:VCYT) had its price objective hoisted by UBS Group from $43.00 to $46.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. UBS Group’s price target points to a potential upside of 18.92% from the stock’s previous close.

Several other research analysts have also recently commented on VCYT. Needham & Company LLC increased their target price on shares of Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim assumed coverage on Veracyte in a report on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective for the company. Morgan Stanley boosted their target price on shares of Veracyte from $21.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, Leerink Partners increased their target price on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Veracyte Trading Up 5.7 %

Veracyte stock traded up $2.09 during midday trading on Thursday, hitting $38.68. The stock had a trading volume of 919,217 shares, compared to its average volume of 758,264. The stock has a market cap of $2.97 billion, a P/E ratio of -52.08 and a beta of 1.67. Veracyte has a 12 month low of $18.61 and a 12 month high of $41.43. The business has a fifty day moving average price of $33.06 and a 200 day moving average price of $26.79.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.17. The firm had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. Veracyte had a positive return on equity of 1.52% and a negative net margin of 13.52%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. On average, equities analysts anticipate that Veracyte will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Veracyte news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.03, for a total transaction of $30,990.96. Following the transaction, the director now directly owns 46,413 shares of the company’s stock, valued at approximately $1,393,782.39. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Veracyte news, Director Evan/ Fa Jones sold 1,032 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.03, for a total transaction of $30,990.96. Following the completion of the sale, the director now directly owns 46,413 shares of the company’s stock, valued at approximately $1,393,782.39. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,141 shares of company stock valued at $1,035,116. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Veracyte

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock valued at $163,649,000 after acquiring an additional 266,660 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of Veracyte by 23.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock worth $59,779,000 after buying an additional 509,340 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Veracyte by 67.4% in the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after acquiring an additional 500,020 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Veracyte by 46.3% in the 1st quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company’s stock valued at $24,726,000 after purchasing an additional 353,000 shares in the last quarter. Finally, Granite Investment Partners LLC boosted its stake in shares of Veracyte by 2.1% during the second quarter. Granite Investment Partners LLC now owns 934,994 shares of the biotechnology company’s stock valued at $20,261,000 after purchasing an additional 19,244 shares in the last quarter.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.