Guggenheim Has Lowered Expectations for Veracyte (NASDAQ:VCYT) Stock Price

Veracyte (NASDAQ:VCYT) had its target price cut by Guggenheim from $45.00 to $37.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research analysts have also commented on VCYT. UBS Group boosted their price target on Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. StockNews.com lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Craig Hallum started coverage on shares of Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $51.00 target price on shares of Veracyte in a research report on Tuesday, February 25th. Finally, Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.60.

Veracyte Stock Down 9.9 %

NASDAQ:VCYT traded down $3.24 during mid-day trading on Wednesday, reaching $29.38. The company’s stock had a trading volume of 371,174 shares, compared to its average volume of 853,068. The firm has a market capitalization of $2.29 billion, a PE ratio of -195.13 and a beta of 2.03. The stock has a fifty day moving average of $34.79 and a 200-day moving average of $37.48. Veracyte has a 1 year low of $18.61 and a 1 year high of $47.32.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period last year, the firm earned ($0.39) earnings per share. On average, analysts expect that Veracyte will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On Veracyte

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake 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 period. Versant Capital Management Inc lifted its holdings in Veracyte by 1,267.6% during the first 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 in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Veracyte in the fourth quarter valued at about $64,000. US Bancorp DE raised its position in shares of Veracyte by 57.4% during the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 647 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 485 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.