News coverage about Veracyte (NASDAQ:VCYT) has trended somewhat positive this week, Alpha One reports. The research group, a division of Accern, rates the sentiment of press coverage by reviewing more than 20 million news and blog sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Veracyte earned a media sentiment score of 0.11 on Alpha One’s scale. Alpha One also gave news headlines about the biotechnology company an impact score of 70 out of 100, meaning that recent press coverage is likely to have an effect on the company’s share price in the next several days.
These are some of the headlines that may have effected Alpha One’s scoring:
- Veracyte (VCYT) Reports Anthem Coverage for Afirma GEC for Use in Thyroid Cancer Diagnosis (streetinsider.com)
- Cantor Fitzgerald Reiterates “$13.00” Price Target for Veracyte Inc (VCYT) (americanbankingnews.com)
- Veracyte Announces Anthem Coverage for the Afirma® Gene Expression Classifier for Use in Thyroid Cancer Diagnosis (finance.yahoo.com)
- Veracyte Inc (VCYT) Director Sells $17,986.08 in Stock (americanbankingnews.com)
- $18.27 Million in Sales Expected for Veracyte Inc (VCYT) This Quarter (americanbankingnews.com)
Shares of Veracyte (NASDAQ:VCYT) opened at 8.23 on Friday. The firm has a 50 day moving average of $8.30 and a 200 day moving average of $7.95. The stock’s market cap is $278.75 million. Veracyte has a one year low of $4.81 and a one year high of $9.71.
Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.24). Veracyte had a negative net margin of 57.45% and a negative return on equity of 88.36%. The company had revenue of $16.43 million for the quarter, compared to the consensus estimate of $18.09 million. On average, equities research analysts predict that Veracyte will post ($0.90) EPS for the current fiscal year.
A number of research analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $12.00 price target on shares of Veracyte in a research note on Friday, March 10th. Zacks Investment Research lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. Finally, Cantor Fitzgerald set a $13.00 target price on shares of Veracyte and gave the stock a “buy” rating in a research report on Thursday, March 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $11.20.
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In other news, Chairman Bonnie H. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $9.09, for a total value of $45,450.00. Following the completion of the sale, the chairman now directly owns 15,000 shares of the company’s stock, valued at approximately $136,350. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.40% of the company’s stock.
Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
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