Analysts forecast that Veracyte (NASDAQ:VCYT) will announce ($0.25) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Veracyte’s earnings. The highest EPS estimate is ($0.22) and the lowest is ($0.26). Veracyte posted earnings of ($0.24) per share in the same quarter last year, which would indicate a negative year over year growth rate of 4.2%. The firm is scheduled to announce its next earnings report on Wednesday, May 2nd.
On average, analysts expect that Veracyte will report full year earnings of ($0.86) per share for the current year, with EPS estimates ranging from ($0.93) to ($0.80). For the next year, analysts forecast that the business will post earnings of ($0.55) per share, with EPS estimates ranging from ($0.61) to ($0.50). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Veracyte.
Veracyte (NASDAQ:VCYT) last released its earnings results on Tuesday, February 27th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). Veracyte had a negative net margin of 43.09% and a negative return on equity of 68.43%. The company had revenue of $19.60 million during the quarter, compared to the consensus estimate of $18.84 million.
Several equities research analysts recently weighed in on VCYT shares. Piper Jaffray reiterated a “hold” rating and issued a $5.40 target price on shares of Veracyte in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Veracyte from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. Finally, ValuEngine cut shares of Veracyte from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.78.
Shares of NASDAQ VCYT traded up $0.10 during mid-day trading on Tuesday, hitting $5.49. The company had a trading volume of 133,653 shares, compared to its average volume of 104,941. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.04 and a current ratio of 4.49. Veracyte has a 12 month low of $5.23 and a 12 month high of $9.80. The stock has a market cap of $191.68, a PE ratio of -6.04 and a beta of 1.62.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Veracyte by 46.3% during the fourth quarter. BlackRock Inc. now owns 1,842,981 shares of the biotechnology company’s stock worth $12,034,000 after purchasing an additional 583,582 shares during the period. ARK Investment Management LLC increased its holdings in shares of Veracyte by 187.2% during the fourth quarter. ARK Investment Management LLC now owns 1,402,264 shares of the biotechnology company’s stock worth $9,157,000 after buying an additional 913,926 shares in the last quarter. Stonepine Capital Management LLC increased its holdings in shares of Veracyte by 274.3% during the fourth quarter. Stonepine Capital Management LLC now owns 1,235,147 shares of the biotechnology company’s stock worth $8,066,000 after buying an additional 905,147 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Veracyte by 3.0% during the fourth quarter. Millennium Management LLC now owns 780,770 shares of the biotechnology company’s stock worth $5,098,000 after buying an additional 23,089 shares in the last quarter. Finally, First Manhattan Co. acquired a new stake in shares of Veracyte during the fourth quarter worth approximately $1,780,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.
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Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.
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