Veracyte, Inc. (NASDAQ:VCYT) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $40.90.

VCYT has been the topic of a number of analyst reports. Stephens reiterated an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. Craig Hallum assumed coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. Guggenheim cut their price target on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, UBS Group dropped their target price on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its position in Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 237 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Veracyte by 1,267.6% during the 1st quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 862 shares during the last quarter. Headlands Technologies LLC bought a new stake in Veracyte in the 1st quarter valued at $48,000. GF Fund Management CO. LTD. acquired a new stake in shares of Veracyte during the fourth quarter worth $64,000. Finally, US Bancorp DE grew its stake in shares of Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock valued at $70,000 after acquiring an additional 647 shares in the last quarter.

Veracyte Stock Down 0.3%

VCYT traded down $0.07 during trading hours on Thursday, hitting $26.89. 1,460,455 shares of the company's stock were exchanged, compared to its average volume of 899,977. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -179.27 and a beta of 2.14. Veracyte has a 1-year low of $19.73 and a 1-year high of $47.32. The stock's 50-day moving average is $30.09 and its two-hundred day moving average is $36.43.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analysts' expectations of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same period in the previous year, the firm posted ($0.39) EPS. On average, equities research analysts anticipate that Veracyte will post 0.68 EPS for the current year.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.