Veracyte (VCYT) Set to Announce Quarterly Earnings on Tuesday

Veracyte (NASDAQ:VCYTGet Rating) will be announcing its earnings results after the market closes on Tuesday, May 3rd. Analysts expect the company to announce earnings of ($0.23) per share for the quarter. Veracyte has set its FY 2022 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Veracyte (NASDAQ:VCYTGet Rating) last posted its earnings results on Monday, February 28th. The biotechnology company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Veracyte had a negative net margin of 34.42% and a negative return on equity of 3.49%. The firm had revenue of $67.34 million during the quarter, compared to analyst estimates of $63.48 million. During the same period in the previous year, the company posted ($0.14) EPS. On average, analysts expect Veracyte to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Veracyte stock opened at $23.32 on Tuesday. Veracyte has a 12 month low of $21.36 and a 12 month high of $54.13. The company has a 50 day moving average price of $26.06. The firm has a market capitalization of $1.66 billion, a P/E ratio of -20.46 and a beta of 0.97.

Several equities analysts have recently commented on VCYT shares. Raymond James decreased their target price on Veracyte from $62.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. TheStreet cut Veracyte from a “c-” rating to a “d+” rating in a research note on Tuesday, January 18th. Stephens cut their price target on Veracyte from $52.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research cut Veracyte from a “hold” rating to a “sell” rating in a research note on Friday, March 4th. Finally, Lake Street Capital cut their price target on Veracyte from $95.00 to $50.00 in a research note on Tuesday, March 1st. Three research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.33.

In other Veracyte news, insider Giulia C. Kennedy sold 23,003 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $25.12, for a total transaction of $577,835.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in VCYT. Norges Bank acquired a new position in shares of Veracyte during the fourth quarter worth $13,299,000. Legal & General Group Plc increased its holdings in shares of Veracyte by 23.1% during the fourth quarter. Legal & General Group Plc now owns 261,433 shares of the biotechnology company’s stock worth $10,771,000 after buying an additional 48,996 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Veracyte by 44.2% during the fourth quarter. Alliancebernstein L.P. now owns 113,020 shares of the biotechnology company’s stock worth $4,656,000 after buying an additional 34,630 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Veracyte by 19.0% during the fourth quarter. Sei Investments Co. now owns 118,840 shares of the biotechnology company’s stock worth $4,896,000 after buying an additional 18,940 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Veracyte by 4.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 415,701 shares of the biotechnology company’s stock worth $17,126,000 after buying an additional 17,286 shares in the last quarter.

Veracyte Company Profile (Get Rating)

Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.

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Earnings History for Veracyte (NASDAQ:VCYT)

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