Veracito (NASDAQ: VCYT – get rating) will release its earnings data after the market close on Wednesday, November 2. Analysts expect Veracyte to post earnings of ($0.24) per share for the quarter. Veracyte has set its guidance for fiscal year 2022 in EPS. People who want to listen to the company’s earnings conference call can do so using this link.
Veracito (NASDAQ: VCYT – get rating) last published its quarterly earnings results on Tuesday, August 2. The biotech company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.08. The firm had revenue of $72.86 million in the quarter, compared to analyst expectations of $67.37 million. Veracyte had a negative return on equity of 4.05% and a negative net margin of 18.13%. On average, analysts expect Veracyte to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Veracyte inventories increased 9.8%
Actions of VCYT Shares opened at $17.63 on Wednesday. The stock has a market capitalization of $1.26 billion, a PE ratio of -25.93, and a beta of 1.23. Veracyte has a 52-week minimum of $14.85 and a 52-week maximum of $54.13. The stock’s 50-day moving average price is $18.53 and its 200-day moving average price is $20.51.
Veracyte Institutional Negotiation
Several large investors have recently increased or decreased their holdings in the stock. Point72 Hong Kong Ltd acquired a new share of Veracyte shares during the first quarter valued at about $33,000. Captrust Financial Advisors increased its position in Veracyte shares by 712.9% during the second quarter. Captrust Financial Advisors now owns 3,219 shares of the biotech company worth $64,000 after buying an additional 2,823 shares last quarter. Quantbot Technologies LP purchased a new position in Veracyte stock during the first quarter worth approximately $73,000. Lazard Asset Management LLC improved its position in Veracyte stock by 46.3% during the first quarter. Lazard Asset Management LLC now owns 3,410 shares of the biotech company worth $94,000 after buying an additional 1,079 shares last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Veracyte by 48.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,959 shares of the biotech company worth $164,000 after purchasing an additional 1,953 shares last quarter.
Wall Street analyst thinks
Various stock analysts have issued reports on VCYT’s stock. Needham & Company LLC raised its price target on Veracyte from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3. StockNews.com began coverage of Veracyte in an investigative report on Wednesday, October 12. They set a “sell” rating on the stock. Ultimately, Raymond James raised his price target on Veracyte from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4. One investment analyst has rated the stock a sell rating and six have issued a buy rating on the stock. Based on data from MarketBeat.com, Veracyte has a “Moderate Buy” consensus rating and an average price target of $42.50.
Veracyte, Inc operates as a diagnostic company throughout the world. The company offers the Afirma Genomic Sequencing Classifier and the Xpression Atlas, which are used to determine whether patients with indeterminate results are benign to avoid unnecessary surgery; Decipher prostate biopsy and radical prostatectomy for the diagnosis of prostate cancer; Prosigna Breast Cancer Assay for the diagnosis of breast cancer; Percepta genomic sequencing classifier and Percepta nasal swab test for lung cancer diagnosis; Envisia Genomic Classifier for the diagnosis of interstitial lung disease, including idiopathic pulmonary fibrosis; and the Immunoscore colon cancer test for the diagnosis of colon cancer.
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