Veracyte (VCYT) Stock Forecast, Price & News

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Veracyte in the last year. There are currently 1 sell rating, 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" VCYT shares.
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6 Wall Street research analysts have issued 1 year target prices for Veracyte's stock. Their VCYT share price forecasts range from $23.00 to $35.00. On average, they anticipate the company's share price to reach $30.60 in the next twelve months. This suggests a possible upside of 37.0% from the stock's current price.
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Veracyte's stock was trading at $23.73 at the beginning of the year. Since then, VCYT shares have decreased by 5.9% and is now trading at $22.34.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 1st 2023.
View our VCYT earnings forecast.

Veracyte, Inc. (NASDAQ:VCYT) released its quarterly earnings results on Tuesday, August, 8th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The biotechnology company had revenue of $90.32 million for the quarter, compared to analysts' expectations of $83.05 million. Veracyte had a negative net margin of 8.84% and a negative trailing twelve-month return on equity of 2.71%. The company's revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) earnings per share.

ETFs with the largest weight of Veracyte (NASDAQ:VCYT) stock in their portfolio include Global X Telemedicine & Digital Health ETF (EDOC), Invesco Biotechnology & Genome ETF (PBE), Global X Genomics & Biotechnology ETF (GNOM), ARK Genomic Revolution ETF (ARKG), ROBO Global Healthcare Technology and Innovation ETF (HTEC), ARK Innovation ETF (ARKK), WisdomTree BioRevolution Fund (WDNA) and ARK Next Generation Internation ETF (ARKW).

Veracyte updated its FY 2023 earnings guidance on Tuesday, August, 8th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $342.00 million-$350.00 million, compared to the consensus revenue estimate of $335.77 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Veracyte investors own include Hawkins (HWKN), Invitae (NVTA), AbbVie (ABBV), CA (CA), CRISPR Therapeutics (CRSP), Advanced Micro Devices (AMD), Editas Medicine (EDIT), NVIDIA (NVDA), Exelixis (EXEL) and NeoGenomics (NEO).

Veracyte trades on the NASDAQ under the ticker symbol "VCYT."

Shares of VCYT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of VCYT stock can currently be purchased for approximately $22.34.

Veracyte (NASDAQ:VCYT) has a market capitalization of $1.63 billion and generates $296.54 million in revenue each year. The biotechnology company earns $-36,560,000.00 in net income (profit) each year or ($0.40) on an earnings per share basis.

The company employs 787 workers across the globe.

Veracyte's mailing address is 6000 SHORELINE COURT SUITE 300, SOUTH SAN FRANCISCO CA, 94080. The official website for the company is www.veracyte.com. The biotechnology company can be reached via phone at (650) 243-6300, via email at keith@veracyte.com, or via fax at 650-243-6301.