Veracyte (NASDAQ:VCYT) Rating Lowered to Hold at Wall Street Zen

Veracyte (NASDAQ:VCYT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

VCYT has been the subject of a number of other reports. Morgan Stanley lowered their price objective on shares of Veracyte from $47.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Needham & Company LLC dropped their price objective on shares of Veracyte from $69.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday. Canaccord Genuity Group cut their target price on Veracyte from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, August 3rd. Finally, Weiss Ratings cut Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Veracyte Trading Up 0.7%

VCYT opened at $24.16 on Friday. The stock’s fifty day simple moving average is $44.07 and its 200 day simple moving average is $42.87. The stock has a market cap of $1.94 billion, a PE ratio of 32.24 and a beta of 1.98. Veracyte has a 1-year low of $21.91 and a 1-year high of $60.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. Veracyte had a return on equity of 9.26% and a net margin of 20.37%. The business had revenue of $151.75 million for the quarter, compared to the consensus estimate of $147.13 million. During the same period in the prior year, the business earned $0.51 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts forecast that Veracyte will post 1.32 earnings per share for the current year.

Insider Activity at Veracyte

In related news, Director Muna Bhanji sold 1,864 shares of the business’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $43.70, for a total value of $81,456.80. Following the completion of the sale, the director owned 40,854 shares of the company’s stock, valued at approximately $1,785,319.80. The trade was a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Leite sold 4,015 shares of Veracyte stock in a transaction on Monday, September 21st. The stock was sold at an average price of $40.00, for a total transaction of $160,600.00. Following the sale, the insider directly owned 124,329 shares of the company’s stock, valued at approximately $4,973,160. This trade represents a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 62,609 shares of company stock worth $2,858,904 in the last quarter. 1.60% of the stock is owned by insiders.

Institutional Trading of Veracyte

Several hedge funds and other institutional investors have recently modified their holdings of VCYT. BlackRock Inc. acquired a new position in Veracyte in the 2nd quarter valued at approximately $792,058,000. Congress Asset Management Co. bought a new stake in shares of Veracyte in the third quarter worth approximately $89,971,000. William Blair Investment Management LLC bought a new position in shares of Veracyte during the 2nd quarter valued at about $84,078,000. Bank of America Corp DE purchased a new stake in Veracyte in the 2nd quarter valued at about $64,737,000. Finally, Legal & General Group Plc purchased a new position in shares of Veracyte in the 2nd quarter valued at approximately $50,398,000.

Trending Headlines about Veracyte

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Veracyte reported Q3 adjusted EPS of $0.51, ahead of estimates, and revenue of $151.75 million, up 15.1% year over year and above consensus. Veracyte tops Q3 earnings and revenue estimates
• Positive Sentiment: The company authorized a share buyback plan, which could provide some support for the stock, though the provided report does not specify its size or timing. Veracyte authorizes a buyback plan
• Negative Sentiment: The main concern is Veracyte’s reduced 2026 revenue outlook, tied to slower-than-expected growth in Decipher Prostate volumes. Management also cited increased investment in breast and bladder cancer tests, potentially weighing on near-term margins and growth. Q3 call highlights slower growth and added investment
• Negative Sentiment: Analyst sentiment weakened after the outlook cut: Leerink Partners downgraded VCYT to Market Perform from Outperform and lowered its price target to $35 from $55. Needham also reduced its target, to $46 from $69, while retaining a Buy rating. Veracyte downgraded after guidance cut
• Negative Sentiment: Several law firms announced investigations into potential securities claims following the company’s disclosures and sharp share-price decline. These are investigations, not findings of wrongdoing, but may add uncertainty for investors. Shareholder investigation notice

Veracyte Company Profile

Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.

The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.

Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.