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

Veracyte (NASDAQ:VCYT) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

Several other brokerages also recently weighed in on VCYT. Weiss Ratings reiterated a “hold (c)” rating on shares of Veracyte in a research report on Thursday. Needham & Company LLC raised their price target on shares of Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Guggenheim boosted their price objective on Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Canaccord Genuity Group increased their price objective on Veracyte from $40.00 to $43.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Finally, UBS Group lifted their target price on Veracyte from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Veracyte currently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

Veracyte Stock Down 1.3%

Shares of VCYT stock opened at $39.35 on Friday. The company has a market cap of $3.11 billion, a P/E ratio of 119.25 and a beta of 2.16. The business has a 50 day moving average of $35.62 and a two-hundred day moving average of $30.42. Veracyte has a 52 week low of $22.61 and a 52 week high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $124.62 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Veracyte has set its FY 2025 guidance at EPS. Analysts expect that Veracyte will post 0.68 EPS for the current fiscal year.

Insider Activity at Veracyte

In other news, SVP Annie Mcguire sold 6,466 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $40.00, for a total transaction of $258,640.00. Following the completion of the sale, the senior vice president directly owned 82,973 shares of the company’s stock, valued at $3,318,920. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rebecca Chambers sold 7,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $41.00, for a total value of $287,000.00. Following the sale, the chief financial officer directly owned 126,158 shares in the company, valued at $5,172,478. This trade represents a 5.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 84,635 shares of company stock worth $3,490,004. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veracyte

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

Veracyte Company Profile

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.