Veracyte, Inc. to Post Fiscal 2022 Earnings of ($0.62) Per Share, KeyCorp Forecasts (NASDAQ:VCYT)

Veracyte, Inc. to Post Fiscal 2022 Earnings of (alt=

Veracyte, Inc. (NASDAQ: VCYTget rating) – KeyCorp stock researchers raised their fiscal 2022 earnings per share (EPS) estimates for Veracyte stock in a research note issued to investors Wednesday, Nov. 2. KeyCorp analyst P. Knight now anticipates the biotech company to earn ($0.62) per share for the year, up from his previous forecast of ($0.85). The consensus estimate for Veracyte’s current full-year earnings is ($0.68) per share. KeyCorp also released estimates for Veracyte’s 2022 fourth quarter earnings at ($0.16) EPS, 2023 fiscal year earnings at ($0.65) EPS and 2024 fiscal year earnings at ($0.30) EPS.

VCYT has been the subject of several other research reports. SVB Leerink raised its price target on Veracyte to $35.00 from $30.00 and gave the stock an “outperform” rating in a research note on Thursday. Needham & Company LLC raised its price target on Veracyte to $33.00 from $31.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James lowered his price target on Veracyte to $27.00 from $31.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley lowered its price target on Veracyte to $22.00 from $23.00 and placed an “underweight” rating on the stock in a research note on Friday. Finally, StockNews.com assumed coverage of Veracyte in a research note on Wednesday, October 12. They set a “sell” rating on the stock. Two investment analysts rated the stock a sell rating and six issued a buy rating on the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.57.

Veracyte stocks increased 0.6%

VCYT Shares opened at $24.38 on Monday. The company’s 50-day moving average is $18.31 and its 200-day moving average is $20.29. The company has a market capitalization of $1.75 billion, a P/E ratio of -40.63, and a beta of 1.28. Veracyte has a twelve month minimum of $14.85 and a twelve month maximum of $52.39.

Hedge funds weigh on Veracyte

Several hedge funds have recently modified their VCYT holdings. Point72 Hong Kong Ltd bought a new position in Veracyte shares in the first quarter valued at around $33,000. Assetmark Inc. increased its holdings in Veracyte shares by 90.3% in the second quarter. Assetmark Inc. now owns 2,596 shares of the biotech company valued at $52,000 after buying an additional 1,232 shares last quarter. Captrust Financial Advisors increased its holding in Veracyte shares by 712.9% in the second quarter. Captrust Financial Advisors now owns 3,219 shares of the biotech company valued at $64,000 after buying an additional 2,823 shares last quarter. First Horizon Advisors Inc. increased its holdings in Veracyte stock by 16,813.6% in the second quarter. First Horizon Advisors Inc. now owns 3,721 shares of the biotech company valued at $73,000 after acquiring an additional 3,699 shares last quarter. Finally, Quantbot Technologies LP purchased a new position in Veracyte stock in the first quarter valued at about $73,000.

About Veracyte

(get rating)

Veracyte, Inc operates as a diagnostic company throughout the world. The company offers the Afirma Genomic Sequencing Classifier and 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.

See also

Veracyte Earnings History and Estimates (NASDAQ:VCYT)

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