Veracyte, Inc. (NASDAQ:VCYT) Receives Average Rating of "Moderate Buy" from Analysts

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

A number of brokerages have recently issued reports on VCYT. Stephens restated an "overweight" rating and issued a $45.00 price objective on shares of Veracyte in a research note on Wednesday, March 26th. UBS Group dropped their price objective on shares of Veracyte from $49.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Guggenheim dropped their target price on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of Veracyte from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, 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 target price for the company.

Institutional Investors Weigh In On Veracyte

Hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC bought a new stake in Veracyte during the 4th quarter worth about $580,000. Bayesian Capital Management LP bought a new stake in Veracyte during the 4th quarter worth about $693,000. Price T Rowe Associates Inc. MD grew its holdings in Veracyte by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,414 shares of the biotechnology company's stock worth $1,918,000 after acquiring an additional 1,816 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Veracyte during the 4th quarter worth about $1,179,000. Finally, Mariner LLC grew its holdings in Veracyte by 30.1% during the 4th quarter. Mariner LLC now owns 8,988 shares of the biotechnology company's stock worth $356,000 after acquiring an additional 2,077 shares during the last quarter.

Veracyte Stock Performance

Shares of VCYT stock opened at $26.39 on Monday. Veracyte has a 52-week low of $19.73 and a 52-week high of $47.32. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 64.37 and a beta of 2.10. The firm has a fifty day moving average of $28.98 and a 200-day moving average of $34.85.

About Veracyte

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.

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