Zacks: Analysts Anticipate Veracyte, Inc. (NASDAQ:VCYT) to Announce -$0.14 Earnings Per Share

Wall Street analysts expect Veracyte, Inc. (NASDAQ:VCYT) to report earnings of ($0.14) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Veracyte’s earnings, with the lowest EPS estimate coming in at ($0.22) and the highest estimate coming in at ($0.07). Veracyte also reported earnings of ($0.14) per share in the same quarter last year. The firm is expected to issue its next quarterly earnings report on Wednesday, February 16th.

According to Zacks, analysts expect that Veracyte will report full-year earnings of ($1.15) per share for the current year, with EPS estimates ranging from ($1.28) to ($1.07). For the next fiscal year, analysts expect that the firm will report earnings of ($0.48) per share, with EPS estimates ranging from ($0.57) to ($0.39). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Veracyte.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Tuesday, November 9th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). Veracyte had a negative return on equity of 3.88% and a negative net margin of 39.14%. The company had revenue of $60.37 million for the quarter, compared to the consensus estimate of $54.66 million. During the same quarter in the prior year, the company earned ($0.08) EPS.

A number of research analysts recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Veracyte in a report on Wednesday, November 10th. The Goldman Sachs Group assumed coverage on Veracyte in a report on Thursday, November 18th. They set a “buy” rating and a $59.00 target price on the stock. Stephens assumed coverage on Veracyte in a report on Friday, January 7th. They set an “overweight” rating and a $52.00 target price on the stock. Finally, Raymond James boosted their target price on Veracyte from $50.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, November 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.78.

Shares of Veracyte stock opened at $30.34 on Wednesday. The stock has a market cap of $2.16 billion, a P/E ratio of -26.85 and a beta of 0.79. Veracyte has a 12-month low of $28.42 and a 12-month high of $86.03. The business’s 50 day moving average is $40.89 and its 200-day moving average is $42.85.

In related news, insider Giulia C. Kennedy sold 9,232 shares of the company’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $36.05, for a total transaction of $332,813.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karin Eastham sold 5,000 shares of the company’s stock in a transaction on Friday, December 17th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,632 shares of company stock worth $145,664,138. 8.30% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in VCYT. Dark Forest Capital Management LP bought a new stake in shares of Veracyte during the 2nd quarter worth $137,000. Advisor Group Holdings Inc. raised its position in Veracyte by 100.9% in the second quarter. Advisor Group Holdings Inc. now owns 3,919 shares of the biotechnology company’s stock valued at $157,000 after purchasing an additional 1,968 shares during the last quarter. NEXT Financial Group Inc raised its position in Veracyte by 20.1% in the third quarter. NEXT Financial Group Inc now owns 3,609 shares of the biotechnology company’s stock valued at $168,000 after purchasing an additional 604 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Veracyte by 10.9% in the third quarter. PNC Financial Services Group Inc. now owns 4,338 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 425 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Veracyte in the second quarter valued at about $216,000.

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.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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