Equities analysts expect that Veracyte Inc (NASDAQ:VCYT) will post earnings per share of ($0.07) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Veracyte’s earnings, with estimates ranging from ($0.12) to ($0.02). Veracyte reported earnings of ($0.27) per share during the same quarter last year, which indicates a positive year over year growth rate of 74.1%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, April 30th.
On average, analysts expect that Veracyte will report full year earnings of ($0.36) per share for the current financial year, with EPS estimates ranging from ($0.39) to ($0.34). For the next year, analysts anticipate that the business will post earnings of ($0.10) per share, with EPS estimates ranging from ($0.15) to ($0.05). Zacks’ EPS calculations are an average based on a survey of research firms that cover Veracyte.
VCYT has been the topic of a number of research reports. Zacks Investment Research downgraded Veracyte from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. BidaskClub raised Veracyte from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. Finally, BTIG Research boosted their price objective on Veracyte to $17.00 and gave the stock a “buy” rating in a research note on Friday, January 4th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Veracyte currently has an average rating of “Buy” and a consensus target price of $15.83.
Several institutional investors and hedge funds have recently bought and sold shares of VCYT. Group One Trading L.P. acquired a new stake in shares of Veracyte during the fourth quarter worth $29,000. Tower Research Capital LLC TRC raised its position in shares of Veracyte by 562.5% during the third quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 10,732 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Veracyte during the third quarter worth $127,000. Metropolitan Life Insurance Co. NY raised its position in shares of Veracyte by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 8,235 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Veracyte during the fourth quarter valued at $140,000. 89.89% of the stock is currently owned by institutional investors.
VCYT stock traded up $0.41 during midday trading on Friday, hitting $25.65. 552,675 shares of the company’s stock were exchanged, compared to its average volume of 760,875. The company has a market capitalization of $1.04 billion, a PE ratio of -41.37 and a beta of 1.03. The company has a quick ratio of 7.16, a current ratio of 7.42 and a debt-to-equity ratio of 0.30. Veracyte has a 12-month low of $5.39 and a 12-month high of $26.75.
Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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