Zacks: Brokerages Anticipate Veracyte Inc (NASDAQ:VCYT) to Announce -$0.08 Earnings Per Share

Analysts expect Veracyte Inc (NASDAQ:VCYT) to report earnings of ($0.08) per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Veracyte’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.09). Veracyte also posted earnings per share of ($0.08) in the same quarter last year. The company is scheduled to issue its next earnings report on Monday, February 24th.

According to Zacks, analysts expect that Veracyte will report full-year earnings of ($0.19) per share for the current fiscal year, with EPS estimates ranging from ($0.20) to ($0.18). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.18) to ($0.15). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Veracyte.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, October 22nd. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $30.97 million during the quarter, compared to analyst estimates of $30.41 million. Veracyte had a negative net margin of 7.08% and a negative return on equity of 5.33%.

Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a report on Friday, November 8th. BidaskClub raised shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Wednesday. Lake Street Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of Veracyte in a research note on Wednesday, December 4th. ValuEngine upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of Veracyte in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.67.

In other news, Director Evan/ Fa Jones sold 5,000 shares of Veracyte stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $28.50, for a total transaction of $142,500.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $712,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bonnie H. Anderson sold 20,000 shares of Veracyte stock in a transaction on Friday, November 15th. The shares were sold at an average price of $25.06, for a total value of $501,200.00. Following the transaction, the chief executive officer now owns 123,726 shares in the company, valued at $3,100,573.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,886 shares of company stock valued at $4,015,594. 8.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FTB Advisors Inc. lifted its position in shares of Veracyte by 80.4% in the fourth quarter. FTB Advisors Inc. now owns 996 shares of the biotechnology company’s stock worth $27,000 after buying an additional 444 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Veracyte by 1,433.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 1,075 shares during the period. Advisor Group Inc. bought a new position in Veracyte during the second quarter valued at about $29,000. NumerixS Investment Technologies Inc bought a new position in Veracyte during the second quarter valued at about $54,000. Finally, US Bancorp DE grew its stake in shares of Veracyte by 540.9% in the 2nd quarter. US Bancorp DE now owns 2,916 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 2,461 shares during the period.

NASDAQ:VCYT traded down $0.02 during trading hours on Friday, hitting $30.15. 344,843 shares of the stock traded hands, compared to its average volume of 424,416. Veracyte has a 1 year low of $16.31 and a 1 year high of $31.18. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -150.74 and a beta of 1.19. The stock has a 50 day moving average price of $28.54 and a 200 day moving average price of $26.47.

About Veracyte

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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