Janney Montgomery Scott upgraded shares of Veracyte Inc. (NASDAQ:VCYT) from a neutral rating to a buy rating in a report released on Tuesday morning.

Several other research firms have also issued reports on VCYT. Zacks Investment Research upgraded shares of Veracyte from a sell rating to a hold rating in a report on Thursday, October 27th. Leerink Swann restated a buy rating and issued a $12.00 target price on shares of Veracyte in a report on Tuesday, November 22nd. William Blair restated an outperform rating on shares of Veracyte in a report on Tuesday, October 18th. Cantor Fitzgerald set a $13.00 target price on shares of Veracyte and gave the company a buy rating in a report on Tuesday, November 22nd. Finally, Piper Jaffray Cos. restated an overweight rating and issued a $10.00 target price (down previously from $12.00) on shares of Veracyte in a report on Thursday, August 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $10.55.

Analyst Recommendations for Veracyte (NASDAQ:VCYT)

Veracyte (NASDAQ:VCYT) opened at 7.83 on Tuesday. The firm’s market capitalization is $218.85 million. Veracyte has a 1-year low of $4.21 and a 1-year high of $8.45. The stock’s 50 day moving average is $7.44 and its 200-day moving average is $6.08.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.16. The company had revenue of $18.60 million for the quarter, compared to analyst estimates of $15.76 million. Veracyte had a negative net margin of 57.45% and a negative return on equity of 88.36%. Veracyte’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Analysts forecast that Veracyte will post ($1.26) EPS for the current year.

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A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Veracyte by 1.1% in the third quarter. Rhumbline Advisers now owns 13,143 shares of the company’s stock valued at $100,000 after buying an additional 140 shares during the period. California State Teachers Retirement System increased its stake in Veracyte by 1.0% in the third quarter. California State Teachers Retirement System now owns 29,687 shares of the company’s stock valued at $226,000 after buying an additional 300 shares during the period. BlackRock Investment Management LLC increased its stake in Veracyte by 1.5% in the second quarter. BlackRock Investment Management LLC now owns 47,453 shares of the company’s stock valued at $239,000 after buying an additional 720 shares during the period. Spark Investment Management LLC increased its stake in Veracyte by 1.5% in the second quarter. Spark Investment Management LLC now owns 59,100 shares of the company’s stock valued at $297,000 after buying an additional 900 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Veracyte by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 140,935 shares of the company’s stock valued at $1,073,000 after buying an additional 2,660 shares during the period. 47.49% of the stock is owned by hedge funds and other institutional investors.

Veracyte Company Profile

Veracyte, Inc is a molecular diagnostics company. The Company is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Company targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.

5 Day Chart for NASDAQ:VCYT

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