Veracyte (VCYT) to Release Earnings on Tuesday

Veracyte (NASDAQ:VCYT - Get Free Report) is set to release its earnings data after the market closes on Tuesday, May 7th. Analysts expect Veracyte to post earnings of ($0.19) per share for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The firm had revenue of $98.20 million for the quarter, compared to analysts' expectations of $95.49 million. On average, analysts expect Veracyte to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Veracyte Stock Performance

VCYT traded down $0.77 during midday trading on Tuesday, reaching $19.57. 647,269 shares of the company were exchanged, compared to its average volume of 636,760. The stock has a market capitalization of $1.50 billion, a P/E ratio of -19.58 and a beta of 1.62. The stock's 50-day simple moving average is $21.51 and its 200 day simple moving average is $23.87. Veracyte has a one year low of $18.61 and a one year high of $30.52.

Insider Activity

In other news, Director Karin Eastham sold 10,000 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the completion of the sale, the director now directly owns 33,125 shares in the company, valued at approximately $717,156.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

VCYT has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Veracyte from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, February 26th. William Blair reaffirmed an "outperform" rating on shares of Veracyte in a research report on Friday, February 23rd. Needham & Company LLC raised their price target on Veracyte from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group dropped their target price 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 research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

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.