Brokerages forecast that Veracyte Inc (NASDAQ:VCYT) will post ($0.13) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Veracyte’s earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.15). Veracyte reported earnings of ($0.24) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 45.8%. The business is expected to report its next quarterly earnings report after the market closes on Monday, February 25th.
On average, analysts expect that Veracyte will report full year earnings of ($0.69) per share for the current fiscal year, with EPS estimates ranging from ($0.71) to ($0.66). For the next year, analysts anticipate that the firm will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.60) to ($0.40). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Veracyte.
Get Veracyte alerts:Several analysts have recently weighed in on the company. BidaskClub upgraded Veracyte from a “hold” rating to a “buy” rating in a report on Monday, January 7th. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Saturday, January 5th. Janney Montgomery Scott upgraded Veracyte from a “neutral” rating to a “buy” rating in a report on Wednesday, October 31st. William Blair restated an “outperform” rating on shares of Veracyte in a report on Tuesday, October 30th. Finally, BTIG Research boosted their price target on Veracyte to $17.00 and gave the stock a “buy” rating in a report on Friday, January 4th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.08.
In other Veracyte news, Chairman Bonnie H. Anderson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $12.13, for a total value of $97,040.00. Following the transaction, the chairman now directly owns 59,236 shares of the company’s stock, valued at $718,532.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Bonnie H. Anderson sold 25,500 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $15.29, for a total value of $389,895.00. Following the completion of the transaction, the chairman now directly owns 94,041 shares in the company, valued at $1,437,886.89. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. ARK Investment Management LLC lifted its stake in Veracyte by 4.8% in the third quarter. ARK Investment Management LLC now owns 3,940,804 shares of the biotechnology company’s stock valued at $37,635,000 after buying an additional 180,145 shares during the period. BlackRock Inc. lifted its stake in Veracyte by 43.6% in the third quarter. BlackRock Inc. now owns 2,998,763 shares of the biotechnology company’s stock valued at $28,638,000 after buying an additional 910,427 shares during the period. Vanguard Group Inc. lifted its stake in Veracyte by 40.0% in the third quarter. Vanguard Group Inc. now owns 1,434,497 shares of the biotechnology company’s stock valued at $13,700,000 after buying an additional 409,641 shares during the period. Vanguard Group Inc lifted its stake in Veracyte by 40.0% in the third quarter. Vanguard Group Inc now owns 1,434,497 shares of the biotechnology company’s stock valued at $13,700,000 after buying an additional 409,641 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Veracyte in the fourth quarter valued at approximately $15,299,000. 88.69% of the stock is currently owned by hedge funds and other institutional investors.
Veracyte stock traded down $0.34 during midday trading on Monday, reaching $18.18. The company’s stock had a trading volume of 390,100 shares, compared to its average volume of 430,450. Veracyte has a 52 week low of $5.23 and a 52 week high of $19.44. The company has a quick ratio of 8.81, a current ratio of 9.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $750.80 million, a PE ratio of -19.98 and a beta of 0.99.
Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States. It uses genomic technology to resolve diagnostic uncertainty. The company offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.
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