Equities research analysts predict that Veracyte Inc (NASDAQ:VCYT) will post earnings of ($0.13) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Veracyte’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.10). Veracyte posted earnings per share of ($0.24) in the same quarter last year, which would suggest a positive year over year growth rate of 45.8%. The company is scheduled to announce its next earnings results on Tuesday, February 26th.
On average, analysts expect that Veracyte will report full year earnings of ($0.69) per share for the current financial year, with EPS estimates ranging from ($0.71) to ($0.66). For the next year, analysts expect that the company will post earnings of ($0.57) per share, with EPS estimates ranging from ($0.73) to ($0.39). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Veracyte.
Veracyte (NASDAQ:VCYT) last announced its earnings results on Monday, October 29th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.13. Veracyte had a negative return on equity of 65.73% and a negative net margin of 33.00%. The firm had revenue of $23.47 million for the quarter, compared to the consensus estimate of $21.52 million.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Friday, July 27th. BidaskClub lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. ValuEngine upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 3rd. Piper Jaffray Companies upped their price target on shares of Veracyte to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, July 24th. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 30th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.33.
Shares of NASDAQ:VCYT traded down $0.36 during mid-day trading on Friday, reaching $14.48. The company had a trading volume of 615,826 shares, compared to its average volume of 644,742. The company has a current ratio of 9.14, a quick ratio of 8.81 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $567.95 million, a PE ratio of -15.91 and a beta of 0.74. Veracyte has a one year low of $5.23 and a one year high of $15.50.
In other news, insider Christopher M. Hall sold 40,000 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $13.51, for a total transaction of $540,400.00. Following the sale, the insider now directly owns 35,955 shares in the company, valued at approximately $485,752.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bonnie H. Anderson sold 6,000 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $12.00, for a total transaction of $72,000.00. Following the sale, the chairman now owns 58,541 shares in the company, valued at $702,492. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Veracyte by 2,429.7% in the 1st quarter. JPMorgan Chase & Co. now owns 129,266 shares of the biotechnology company’s stock worth $719,000 after buying an additional 124,156 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Veracyte during the 2nd quarter worth about $182,000. Essex Investment Management Co. LLC boosted its stake in shares of Veracyte by 27.4% during the 2nd quarter. Essex Investment Management Co. LLC now owns 304,755 shares of the biotechnology company’s stock worth $2,846,000 after purchasing an additional 65,529 shares during the period. Acadian Asset Management LLC purchased a new stake in Veracyte in the 2nd quarter valued at about $391,000. Finally, Perkins Capital Management Inc. boosted its position in Veracyte by 678.4% in the 2nd quarter. Perkins Capital Management Inc. now owns 150,855 shares of the biotechnology company’s stock valued at $1,409,000 after buying an additional 131,475 shares during the period. Institutional investors own 83.03% of the company’s stock.
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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