Analysts Set Veracyte, Inc. (NASDAQ:VCYT) PT at $39.71

Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $39.71.

A number of equities research analysts recently issued reports on VCYT shares. Leerink Partners upped their target price on Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price objective on Veracyte from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of Veracyte from $21.00 to $26.00 and gave the company an "underweight" rating in a research note on Monday, August 12th. Guggenheim began coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Veracyte from $40.00 to $44.00 and gave the company a "sector outperform" rating in a research report on Friday.

Veracyte Trading Down 2.3 %

VCYT traded down $0.86 on Friday, hitting $36.48. The company had a trading volume of 902,733 shares, compared to its average volume of 705,005. The company's fifty day moving average price is $33.27 and its 200 day moving average price is $27.08. Veracyte has a 1 year low of $18.61 and a 1 year high of $41.43. The firm has a market cap of $2.80 billion, a P/E ratio of -243.20 and a beta of 1.67.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.16. Veracyte had a positive return on equity of 3.07% and a negative net margin of 2.18%. The firm had revenue of $115.86 million during the quarter, compared to analysts' expectations of $109.81 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Veracyte's revenue was up 28.6% compared to the same quarter last year. On average, analysts predict that Veracyte will post 0.16 earnings per share for the current year.

Insider Activity

In other news, insider John Leite sold 5,479 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John Leite sold 5,479 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now directly owns 76,174 shares of the company's stock, valued at approximately $2,268,461.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the sale, the director now directly owns 34,343 shares of the company's stock, valued at approximately $1,209,903.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,109 shares of company stock valued at $1,004,125 in the last three months. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. KBC Group NV raised its stake in shares of Veracyte by 13.7% in the 3rd quarter. KBC Group NV now owns 2,677 shares of the biotechnology company's stock valued at $91,000 after purchasing an additional 323 shares in the last quarter. Inspire Investing LLC lifted its holdings in Veracyte by 2.1% during the 2nd quarter. Inspire Investing LLC now owns 16,462 shares of the biotechnology company's stock worth $357,000 after buying an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Veracyte by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,778 shares of the biotechnology company's stock worth $94,000 after acquiring an additional 496 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Veracyte by 6.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company's stock worth $182,000 after acquiring an additional 530 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Veracyte by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 20,806 shares of the biotechnology company's stock valued at $451,000 after acquiring an additional 733 shares during the last quarter.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.