Veracyte (NASDAQ:VCYT) Stock Rating Upgraded by Wall Street Zen

Veracyte (NASDAQ:VCYTGet Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Craig Hallum started coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a “buy” rating and a $45.00 price target for the company. Needham & Company LLC dropped their price target on shares of Veracyte from $51.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Stephens reiterated an “overweight” rating and set a $45.00 price target on shares of Veracyte in a research report on Wednesday, March 26th. Guggenheim dropped their price target on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, UBS Group dropped their price target on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Veracyte currently has an average rating of “Moderate Buy” and an average price target of $40.90.

Read Our Latest Stock Report on VCYT

Veracyte Price Performance

Shares of VCYT stock opened at $26.44 on Friday. The firm’s 50-day moving average is $29.49 and its two-hundred day moving average is $35.65. Veracyte has a 12 month low of $19.73 and a 12 month high of $47.32. The company has a market capitalization of $2.07 billion, a PE ratio of -176.27 and a beta of 2.09.

Institutional Trading of Veracyte

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in shares of Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after buying an additional 237 shares during the last quarter. Versant Capital Management Inc raised its position in Veracyte by 1,267.6% in the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 862 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Veracyte in the 1st quarter valued at $48,000. GF Fund Management CO. LTD. purchased a new stake in Veracyte in the 4th quarter valued at $64,000. Finally, US Bancorp DE raised its position in Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 647 shares during the last quarter.

Veracyte Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Veracyte (NASDAQ:VCYT)

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