Veracyte (NASDAQ:VCYT) Posts Earnings Results

Veracyte (NASDAQ:VCYT) posted its quarterly earnings data on Tuesday. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.17, Briefing.com reports. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The business had revenue of $96.84 million during the quarter, compared to the consensus estimate of $93.35 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year.

Veracyte Stock Up 0.5 %

Shares of VCYT opened at $21.03 on Wednesday. Veracyte has a 52-week low of $18.61 and a 52-week high of $30.52. The firm’s fifty day moving average is $21.09 and its two-hundred day moving average is $23.84. The stock has a market cap of $1.61 billion, a PE ratio of -20.42 and a beta of 1.65.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VCYT shares. Needham & Company LLC raised their price objective on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Morgan Stanley cut their price objective on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, February 26th. William Blair reiterated an “outperform” rating on shares of Veracyte in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group lowered their price objective on Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Veracyte currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insiders Place Their Bets

In other Veracyte news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the sale, the director now owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

About Veracyte

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.