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Wall Street brokerages expect that Veracyte, Inc. (NASDAQ:VCYT – Get Rating) will announce ($0.18) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Veracyte’s earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.08). Veracyte posted earnings per share of ($0.13) during the same quarter last year, which suggests a negative year-over-year growth rate of 38.5%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Veracyte will report full year earnings of ($0.77) per share for the current financial year, with EPS estimates ranging from ($0.96) to ($0.30). For the next financial year, analysts forecast that the firm will post earnings of ($0.51) per share, with EPS estimates ranging from ($0.89) to ($0.17). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Veracyte.
Veracyte (NASDAQ:VCYT – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. Veracyte had a negative net margin of 19.22% and a negative return on equity of 4.09%. During the same quarter in the previous year, the business posted ($0.11) EPS.
Several equities analysts have recently weighed in on VCYT shares. Lake Street Capital reduced their price objective on Veracyte from $95.00 to $50.00 in a research note on Tuesday, March 1st. Stephens reduced their price target on Veracyte from $52.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. SVB Leerink reduced their price target on Veracyte from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Zacks Investment Research raised Veracyte from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Finally, Raymond James reduced their price target on Veracyte from $62.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.38.
NASDAQ VCYT traded down $1.11 during trading hours on Friday, reaching $17.12. The company had a trading volume of 845,886 shares, compared to its average volume of 1,117,525. The stock has a market capitalization of $1.22 billion, a P/E ratio of -25.18 and a beta of 1.12. The stock has a 50-day moving average of $21.55 and a 200 day moving average of $28.95. Veracyte has a 1-year low of $14.85 and a 1-year high of $54.13.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC boosted its position in Veracyte by 8.5% during the 1st quarter. Advisory Services Network LLC now owns 24,594 shares of the biotechnology company’s stock worth $678,000 after acquiring an additional 1,927 shares during the period. Mirabella Financial Services LLP acquired a new position in Veracyte during the 1st quarter worth $2,927,000. Point72 Hong Kong Ltd acquired a new position in Veracyte during the 1st quarter worth $33,000. Quantamental Technologies LLC acquired a new position in Veracyte during the 1st quarter worth $216,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Veracyte in the first quarter valued at $73,000.
About Veracyte (Get Rating)
Veracyte, Inc operates as a diagnostics company worldwide. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to determine patients with indeterminate results are benign to avoid unnecessary surgery; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Genomic Sequencing Classifier and Percepta Nasal Swab Test for lung cancer diagnosis; Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis; and Immunoscore Colon Cancer test for colon cancer diagnosis.
Further Reading
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