Veracyte (VCYT) Projected to Post Earnings on Monday

Veracyte (NASDAQ:VCYT - Get Free Report) will likely be issuing its quarterly earnings data after the market closes on Monday, February 24th. Analysts expect the company to announce earnings of $0.14 per share and revenue of $116.69 million for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

Veracyte Stock Performance

Shares of Veracyte stock traded up $1.13 on Wednesday, reaching $41.55. The stock had a trading volume of 504,194 shares, compared to its average volume of 782,707. The stock has a market cap of $3.22 billion, a P/E ratio of -278.54 and a beta of 1.71. Veracyte has a fifty-two week low of $18.61 and a fifty-two week high of $47.32. The business's 50-day moving average price is $42.19 and its two-hundred day moving average price is $37.03.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VCYT shares. UBS Group upped their target price on shares of Veracyte from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on shares of Veracyte from $26.00 to $28.00 and gave the company an "underweight" rating in a research report on Monday, November 18th. StockNews.com downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Tuesday. Wolfe Research assumed coverage on Veracyte in a research note on Friday, November 15th. They set an "outperform" rating and a $50.00 target price for the company. Finally, Scotiabank increased their target price on Veracyte from $40.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Veracyte has an average rating of "Moderate Buy" and a consensus target price of $42.00.

Insider Activity at Veracyte

In other Veracyte news, CFO Rebecca Chambers sold 7,000 shares of Veracyte stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.23, for a total value of $302,610.00. Following the transaction, the chief financial officer now directly owns 114,037 shares of the company's stock, valued at $4,929,819.51. The trade was a 5.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jonathan Wygant sold 956 shares of Veracyte stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total value of $41,452.16. Following the sale, the chief accounting officer now owns 40,270 shares in the company, valued at $1,746,107.20. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,565 shares of company stock valued at $1,031,406. 1.30% of the stock is owned by insiders.

About Veracyte

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.