Veracyte, Inc. (NASDAQ:VCYT – Get Rating) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.00.
VCYT has been the topic of a number of research analyst reports. Scotiabank initiated coverage on shares of Veracyte in a report on Wednesday, January 4th. They set a “sector outperform” rating and a $33.00 price objective on the stock. StockNews.com assumed coverage on shares of Veracyte in a report on Thursday. They set a “hold” rating on the stock. Needham & Company LLC lifted their target price on shares of Veracyte from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Finally, Raymond James cut shares of Veracyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 18th.
Insiders Place Their Bets
In other Veracyte news, Director Bonnie H. Anderson sold 34,000 shares of Veracyte stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $22.76, for a total transaction of $773,840.00. Following the completion of the transaction, the director now owns 53,967 shares in the company, valued at $1,228,288.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Bonnie H. Anderson sold 63,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $25.13, for a total value of $1,589,397.11. Following the completion of the transaction, the director now owns 62,961 shares of the company’s stock, valued at $1,582,209.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bonnie H. Anderson sold 34,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $22.76, for a total transaction of $773,840.00. Following the completion of the transaction, the director now directly owns 53,967 shares of the company’s stock, valued at approximately $1,228,288.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,247 shares of company stock worth $3,259,137. Insiders own 2.90% of the company’s stock.
Hedge Funds Weigh In On Veracyte
Veracyte Trading Up 1.7 %
VCYT stock opened at $23.31 on Friday. The company has a market cap of $1.68 billion, a P/E ratio of -46.62 and a beta of 1.44. Veracyte has a 52 week low of $14.85 and a 52 week high of $32.40. The company’s 50-day moving average price is $24.80 and its 200 day moving average price is $23.02.
Veracyte (NASDAQ:VCYT – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The biotechnology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $80.30 million for the quarter, compared to the consensus estimate of $74.92 million. Veracyte had a negative net margin of 12.33% and a negative return on equity of 3.42%. The firm’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. On average, equities research analysts expect that Veracyte will post -0.54 earnings per share for the current year.
Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
- Get a free copy of the StockNews.com research report on Veracyte (VCYT)
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