Leerink Partnrs Brokers Lift Earnings Estimates for Veracyte

Veracyte, Inc. (NASDAQ:VCYT - Free Report) - Research analysts at Leerink Partnrs raised their FY2026 EPS estimates for shares of Veracyte in a research report issued on Monday, April 21st. Leerink Partnrs analyst P. Souda now expects that the biotechnology company will post earnings per share of $0.80 for the year, up from their prior forecast of $0.79. The consensus estimate for Veracyte's current full-year earnings is $0.68 per share.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Veracyte from a "buy" rating to a "hold" rating in a report on Wednesday, February 26th. UBS Group boosted their price objective on shares of Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a "buy" rating and a $45.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $51.00 price target on shares of Veracyte in a research report on Tuesday, February 25th. Finally, Stephens restated an "overweight" rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.60.

Veracyte Price Performance

Shares of VCYT stock traded up $0.09 during trading hours on Tuesday, reaching $32.23. 478,110 shares of the company's stock were exchanged, compared to its average volume of 862,345. Veracyte has a 1 year low of $19.16 and a 1 year high of $47.32. The company has a market cap of $2.51 billion, a P/E ratio of -214.87 and a beta of 2.03. The company's 50 day moving average is $32.41 and its two-hundred day moving average is $37.29.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The business 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 quarter in the previous year, the firm earned ($0.39) earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its holdings in shares of Veracyte by 31.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company's stock worth $261,331,000 after buying an additional 1,576,432 shares in the last quarter. Marshall Wace LLP boosted its position in Veracyte by 768.9% during the fourth quarter. Marshall Wace LLP now owns 956,577 shares of the biotechnology company's stock worth $37,880,000 after acquiring an additional 846,487 shares during the last quarter. Driehaus Capital Management LLC grew its stake in Veracyte by 226.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,183,766 shares of the biotechnology company's stock worth $46,877,000 after acquiring an additional 821,554 shares during the period. Point72 Asset Management L.P. acquired a new position in Veracyte in the 4th quarter valued at $20,717,000. Finally, Vanguard Group Inc. lifted its stake in shares of Veracyte by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after purchasing an additional 463,098 shares during the period.

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.