Veracyte (NASDAQ:VCYT) Upgraded at Wall Street Zen

Veracyte (NASDAQ:VCYT) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

VCYT has been the subject of several other research reports. Needham & Company LLC raised their price target on shares of Veracyte from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group lifted their price target on Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research note on Wednesday. UBS Group increased their price objective on shares of Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Veracyte in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Veracyte presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.

Veracyte Trading Up 0.0%

VCYT opened at $41.70 on Friday. The company’s 50 day moving average is $34.59 and its 200-day moving average is $30.10. The company has a market cap of $3.28 billion, a P/E ratio of 126.37 and a beta of 2.16. Veracyte has a 1-year low of $22.61 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.19. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The company had revenue of $131.87 million for the quarter, compared to the consensus estimate of $124.62 million. During the same quarter last year, the business posted $0.33 EPS. Veracyte’s revenue for the quarter was up 13.8% on a year-over-year basis. Veracyte has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Veracyte will post 0.68 EPS for the current year.

Insider Transactions at Veracyte

In other news, SVP Annie Mcguire sold 6,466 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $40.00, for a total value of $258,640.00. Following the completion of the sale, the senior vice president owned 82,973 shares of the company’s stock, valued at approximately $3,318,920. This represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karin Eastham sold 9,674 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $40.02, for a total value of $387,153.48. Following the completion of the sale, the director directly owned 13,554 shares of the company’s stock, valued at approximately $542,431.08. This trade represents a 41.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 84,635 shares of company stock worth $3,490,004. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. boosted its position in Veracyte by 5.7% during the 1st quarter. Xponance Inc. now owns 6,860 shares of the biotechnology company’s stock valued at $203,000 after acquiring an additional 370 shares in the last quarter. Arizona State Retirement System lifted its position in Veracyte by 1.8% during the third quarter. Arizona State Retirement System now owns 23,158 shares of the biotechnology company’s stock valued at $795,000 after purchasing an additional 419 shares during the period. Blair William & Co. IL increased its position in Veracyte by 3.5% during the first quarter. Blair William & Co. IL now owns 16,092 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 550 shares during the last quarter. California State Teachers Retirement System grew its position in Veracyte by 0.8% during the second quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock valued at $1,922,000 after buying an additional 566 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in Veracyte by 4.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,991 shares of the biotechnology company’s stock worth $486,000 after purchasing an additional 790 shares during the period.

About Veracyte

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.