Veracyte (VCYT) Scheduled to Post Quarterly Earnings on Wednesday

by · The Cerbat Gem

Veracyte (NASDAQ:VCYT – Get Free Report) is scheduled to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect Veracyte to post earnings of $0.02 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Veracyte (NASDAQ:VCYT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The business had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, analysts expect Veracyte to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Veracyte Price Performance

VCYT stock opened at $34.98 on Tuesday. The company’s fifty day moving average price is $32.88 and its 200-day moving average price is $26.60. Veracyte has a one year low of $18.61 and a one year high of $35.51.

Insider Buying and Selling at Veracyte

In other news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.03, for a total transaction of $30,990.96. Following the transaction, the director now owns 46,413 shares in the company, valued at $1,393,782.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Veracyte news, Director Evan/ Fa Jones sold 1,032 shares of Veracyte stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.03, for a total value of $30,990.96. Following the completion of the transaction, the director now directly owns 46,413 shares of the company’s stock, valued at $1,393,782.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Leite sold 5,479 shares of Veracyte stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the transaction, the insider now directly owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,141 shares of company stock worth $1,180,116. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on VCYT. Morgan Stanley upped their price target 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. Needham & Company LLC increased their price target on shares of Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. UBS Group assumed coverage on shares of Veracyte in a research report on Wednesday, October 16th. They issued a “buy” rating and a $43.00 price objective for the company. Guggenheim initiated coverage on shares of Veracyte in a research report on Thursday, October 10th. They set a “buy” rating and a $40.00 price target for the company. Finally, Leerink Partners raised their price objective on shares of Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

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About Veracyte

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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.

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