Analysts Set Veracyte, Inc. (NASDAQ:VCYT) PT at $31.25

Veracyte, Inc. (NASDAQ:VCYT) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.25.

Several equities research analysts have recently issued reports on VCYT shares. Morgan Stanley raised their price objective on Veracyte from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Needham & Company LLC lifted their price target on Veracyte from $31.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.

Veracyte Trading Down 1.2 %

Veracyte stock opened at $34.83 on Tuesday. The stock has a market cap of $2.68 billion, a PE ratio of -37.05 and a beta of 1.66. The stock has a 50-day moving average price of $28.68 and a 200 day moving average price of $23.85. Veracyte has a 52 week low of $18.61 and a 52 week high of $35.51.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. Veracyte had a negative net margin of 13.52% and a positive return on equity of 1.52%. The business had revenue of $114.43 million during the quarter, compared to analyst estimates of $100.27 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, equities analysts predict that Veracyte will post 0.16 EPS for the current year.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $25.00, for a total value of $187,500.00. Following the transaction, the director now directly owns 33,228 shares in the company, valued at approximately $830,700. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider John Leite sold 5,479 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now directly owns 76,174 shares in the company, valued at approximately $2,268,461.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karin Eastham sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $25.00, for a total value of $187,500.00. Following the completion of the transaction, the director now directly owns 33,228 shares in the company, valued at $830,700. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,745 shares of company stock valued at $1,217,296. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Veracyte

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after acquiring an additional 266,660 shares during the period. Dimensional Fund Advisors LP grew its holdings in Veracyte by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,372,703 shares of the biotechnology company’s stock valued at $92,787,000 after purchasing an additional 161,073 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Veracyte by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,347,436 shares of the biotechnology company’s stock worth $74,179,000 after buying an additional 242,760 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in Veracyte by 7.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,347,436 shares of the biotechnology company’s stock worth $74,012,000 after buying an additional 242,760 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Veracyte by 23.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,697,600 shares of the biotechnology company’s stock valued at $59,779,000 after buying an additional 509,340 shares during the last quarter.

Veracyte Company Profile

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.