Veracyte (VCYT) Scheduled to Post Quarterly Earnings on Tuesday

Veracyte (NASDAQ:VCYT) is set to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Veracyte to post earnings of ($0.19) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.49 million. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. On average, analysts expect Veracyte to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Veracyte Stock Performance

NASDAQ VCYT traded down $0.17 on Tuesday, reaching $20.17. 41,481 shares of the company were exchanged, compared to its average volume of 629,324. The business’s fifty day moving average price is $21.51 and its 200 day moving average price is $23.87. Veracyte has a fifty-two week low of $18.61 and a fifty-two week high of $30.52.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the completion of the transaction, the director now owns 33,125 shares of the company’s stock, valued at $717,156.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

VCYT has been the topic of several recent research reports. The Goldman Sachs Group lowered their price target on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. William Blair reiterated an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Morgan Stanley dropped their price target on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, February 26th. Finally, Needham & Company LLC lifted their price target on shares of Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Veracyte presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.