Veracyte (NASDAQ:VCYT) had its price target upped by equities researchers at SVB Leerink from $32.00 to $37.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. SVB Leerink’s target price indicates a potential upside of 3.73% from the company’s current price.
A number of other research analysts have also commented on the company. BidaskClub raised Veracyte from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Veracyte in a research note on Thursday, May 7th. Finally, Zacks Investment Research upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, July 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Veracyte has an average rating of “Buy” and an average price target of $35.75.
NASDAQ VCYT opened at $35.67 on Friday. The stock has a market capitalization of $1.79 billion, a PE ratio of -56.62 and a beta of 0.84. Veracyte has a 12-month low of $13.90 and a 12-month high of $36.42. The company has a 50 day moving average price of $27.75 and a two-hundred day moving average price of $25.60.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Thursday, July 30th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.22). Veracyte had a negative net margin of 27.49% and a negative return on equity of 13.24%. The business had revenue of $20.70 million during the quarter, compared to analyst estimates of $17.56 million. On average, analysts expect that Veracyte will post -0.67 EPS for the current fiscal year.
In other news, CEO Bonnie H. Anderson sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $26.67, for a total transaction of $533,400.00. Following the transaction, the chief executive officer now owns 274,183 shares in the company, valued at approximately $7,312,460.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Bonnie H. Anderson sold 11,365 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $32.24, for a total transaction of $366,407.60. Following the transaction, the chief executive officer now directly owns 283,572 shares of the company’s stock, valued at approximately $9,142,361.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 207,654 shares of company stock valued at $5,927,681. Corporate insiders own 8.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VCYT. Advisor Group Holdings Inc. bought a new stake in shares of Veracyte in the 1st quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Veracyte by 34.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,674 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 938 shares during the period. Arden Trust Co bought a new stake in Veracyte in the 1st quarter valued at $91,000. Strs Ohio raised its stake in shares of Veracyte by 10.3% in the 2nd quarter. Strs Ohio now owns 4,300 shares of the biotechnology company’s stock valued at $111,000 after buying an additional 400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Veracyte by 33.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,921 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 1,247 shares during the period.
Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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