Equities research analysts expect Veracyte Inc (NASDAQ:VCYT) to post ($0.08) earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Veracyte’s earnings, with estimates ranging from ($0.09) to ($0.06). Veracyte also posted earnings per share of ($0.08) in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Monday, February 24th.
On average, analysts expect that Veracyte will report full year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.20) to ($0.18). For the next financial year, analysts forecast that the company will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.18) to ($0.09). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Veracyte.
Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. The company had revenue of $30.97 million for the quarter, compared to analysts’ expectations of $30.41 million. Veracyte had a negative net margin of 7.08% and a negative return on equity of 5.33%.
Several research analysts recently weighed in on VCYT shares. ValuEngine upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. BidaskClub cut shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of Veracyte in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.75.
In other news, CEO Bonnie H. Anderson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $24.51, for a total transaction of $196,080.00. Following the completion of the sale, the chief executive officer now owns 111,028 shares of the company’s stock, valued at $2,721,296.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Walter Hanna, Jr. sold 15,497 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.55, for a total value of $442,439.35. Following the sale, the insider now directly owns 66,416 shares of the company’s stock, valued at approximately $1,896,176.80. The disclosure for this sale can be found here. Insiders have sold 141,079 shares of company stock worth $3,714,170 over the last quarter. Company insiders own 8.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Veracyte by 43.8% during the second quarter. BlackRock Inc. now owns 3,987,802 shares of the biotechnology company’s stock valued at $113,692,000 after purchasing an additional 1,215,062 shares during the period. Invesco Ltd. lifted its stake in Veracyte by 401.5% in the second quarter. Invesco Ltd. now owns 2,985,745 shares of the biotechnology company’s stock worth $85,124,000 after acquiring an additional 2,390,394 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Veracyte by 28.7% in the third quarter. Nikko Asset Management Americas Inc. now owns 2,764,236 shares of the biotechnology company’s stock worth $66,342,000 after acquiring an additional 615,988 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Veracyte by 144.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,764,236 shares of the biotechnology company’s stock worth $66,342,000 after acquiring an additional 1,633,287 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Veracyte by 36.8% in the second quarter. Vanguard Group Inc. now owns 2,298,052 shares of the biotechnology company’s stock worth $65,517,000 after acquiring an additional 618,054 shares during the period.
Shares of VCYT stock traded up $2.08 during trading on Wednesday, hitting $28.34. The company had a trading volume of 996,736 shares, compared to its average volume of 643,694. The stock’s 50-day moving average is $24.90 and its two-hundred day moving average is $25.82. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -45.72 and a beta of 1.14. Veracyte has a 52 week low of $10.73 and a 52 week high of $31.18.
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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