Veracyte, Inc. (NASDAQ:VCYT) Given Average Rating of “Moderate Buy” by Analysts

Veracyte, Inc. (NASDAQ:VCYT) has received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $39.71.

A number of research analysts recently commented on VCYT shares. UBS Group increased their price target on Veracyte from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC increased their price target on Veracyte from $37.00 to $44.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley increased their target price on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday. 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.

Insider Transactions at Veracyte

In other news, Director Evan/ Fa Jones sold 20,457 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total transaction of $658,715.40. Following the sale, the director now directly owns 34,343 shares in the company, valued at approximately $1,105,844.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Evan/ Fa Jones sold 20,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.20, for a total value of $658,715.40. Following the sale, the director now directly owns 34,343 shares in the company, valued at $1,105,844.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Leite sold 5,479 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,109 shares of company stock worth $1,004,125. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Veracyte

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Veracyte by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock valued at $163,649,000 after purchasing an additional 266,660 shares during the period. Champlain Investment Partners LLC increased 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 valued at $59,779,000 after purchasing an additional 509,340 shares during the period. William Blair Investment Management LLC increased its position in shares of Veracyte by 67.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company’s stock valued at $26,907,000 after purchasing an additional 500,020 shares during the period. Bamco Inc. NY increased its position in shares of Veracyte by 46.3% during 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 during the period. Finally, Granite Investment Partners LLC increased its position in shares of Veracyte by 2.1% during the 2nd 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 during the period.

Veracyte Price Performance

Shares of NASDAQ VCYT opened at $36.48 on Friday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -243.20 and a beta of 1.67. Veracyte has a 1-year low of $18.61 and a 1-year high of $41.43. The business has a 50-day moving average of $33.27 and a 200-day moving average of $27.03.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. The firm had revenue of $115.86 million during the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a positive return on equity of 3.07% and a negative net margin of 2.18%. Veracyte’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Research analysts expect that Veracyte will post 0.16 EPS for the current fiscal year.

About Veracyte

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.