Veracyte Inc (NASDAQ:VCYT) – William Blair issued their FY2018 earnings per share estimates for shares of Veracyte in a research report issued to clients and investors on Tuesday, October 30th. William Blair analyst B. Weinstein forecasts that the biotechnology company will post earnings per share of ($0.71) for the year. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Veracyte’s Q4 2018 earnings at ($0.15) EPS, Q1 2019 earnings at ($0.14) EPS, Q2 2019 earnings at ($0.11) EPS, Q3 2019 earnings at ($0.10) EPS, Q4 2019 earnings at ($0.07) EPS and FY2019 earnings at ($0.73) EPS.
Several other analysts have also recently issued reports on the stock. BidaskClub cut shares of Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 7th. ValuEngine lowered shares of Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 21st. Piper Jaffray Companies upped their target price on shares of Veracyte to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. Janney Montgomery Scott upgraded shares of Veracyte from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research upgraded shares of Veracyte from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a research note on Thursday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Veracyte has a consensus rating of “Buy” and an average price target of $11.50.
Shares of VCYT opened at $13.01 on Friday. The stock has a market cap of $468.63 million, a PE ratio of -14.30 and a beta of 1.82. Veracyte has a 1 year low of $5.23 and a 1 year high of $15.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.71 and a current ratio of 9.14.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Monday, October 29th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. The business had revenue of $23.47 million for the quarter, compared to analysts’ expectations of $21.52 million. Veracyte had a negative net margin of 33.00% and a negative return on equity of 65.73%.
In other Veracyte news, insider Christopher M. Hall sold 40,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $13.51, for a total value of $540,400.00. Following the transaction, the insider now directly owns 35,955 shares in the company, valued at $485,752.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher M. Hall sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $12.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now owns 36,692 shares in the company, valued at $440,304. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $852,400 over the last 90 days. Insiders own 13.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP increased its stake in Veracyte by 38.4% in the third quarter. Engineers Gate Manager LP now owns 34,214 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 9,495 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Veracyte in the third quarter valued at approximately $2,197,000. Acadian Asset Management LLC increased its stake in Veracyte by 485.2% in the third quarter. Acadian Asset Management LLC now owns 244,887 shares of the biotechnology company’s stock valued at $2,339,000 after purchasing an additional 203,037 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Veracyte in the third quarter valued at approximately $2,111,000. Finally, Perkins Capital Management Inc. increased its stake in Veracyte by 40.2% in the third quarter. Perkins Capital Management Inc. now owns 211,555 shares of the biotechnology company’s stock valued at $2,020,000 after purchasing an additional 60,700 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.
Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.
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