Wall Street brokerages forecast that Veracyte Inc (NASDAQ:VCYT) will report ($0.13) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Veracyte’s earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.15). Veracyte posted earnings per share of ($0.24) in the same quarter last year, which would suggest a positive year-over-year growth rate of 45.8%. The firm is expected to issue its next earnings report on Tuesday, February 26th.
On average, analysts expect that Veracyte will report full-year earnings of ($0.69) per share for the current year, with EPS estimates ranging from ($0.71) to ($0.66). For the next financial year, analysts forecast that the firm will post earnings of ($0.57) per share, with EPS estimates ranging from ($0.73) to ($0.39). Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Veracyte.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Monday, October 29th. The biotechnology company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.13. Veracyte had a negative net margin of 33.00% and a negative return on equity of 65.73%. The business had revenue of $23.47 million for the quarter, compared to analyst estimates of $21.52 million.
A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. Janney Montgomery Scott upgraded shares of Veracyte from a “neutral” rating to a “buy” rating in a research report on Wednesday. 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 report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a research report on Tuesday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Veracyte has a consensus rating of “Buy” and a consensus target price of $11.50.
VCYT traded up $1.19 on Friday, reaching $14.20. The company had a trading volume of 672,983 shares, compared to its average volume of 612,658. Veracyte has a fifty-two week low of $5.23 and a fifty-two week high of $15.19. The company has a current ratio of 9.14, a quick ratio of 3.71 and a debt-to-equity ratio of 0.32.
In other news, insider Christopher M. Hall sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $13.51, for a total transaction of $540,400.00. Following the completion of the sale, the insider now owns 35,955 shares of the company’s stock, valued at approximately $485,752.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Bonnie H. Anderson sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $12.00, for a total transaction of $72,000.00. Following the sale, the chairman now directly owns 58,541 shares of the company’s stock, valued at approximately $702,492. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,000 shares of company stock worth $852,400. Company insiders own 13.70% of the company’s stock.
Several institutional investors have recently modified their holdings of VCYT. Meeder Asset Management Inc. grew its holdings in Veracyte by 79.8% in the third quarter. Meeder Asset Management Inc. now owns 16,178 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 7,182 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Veracyte in the second quarter valued at about $171,000. Bank of Montreal Can bought a new stake in shares of Veracyte in the second quarter valued at about $182,000. Sigma Planning Corp bought a new stake in shares of Veracyte in the second quarter valued at about $217,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Veracyte in the second quarter valued at about $231,000. 82.39% of the stock is owned by institutional investors.
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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