Veracyte (NASDAQ:VCYT) Issues Earnings Results

Veracyte (NASDAQ:VCYT) announced its earnings results on Tuesday. The biotechnology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04, Fidelity Earnings reports. The business had revenue of $30.14 million during the quarter, compared to the consensus estimate of $29.20 million. Veracyte had a negative net margin of 15.51% and a negative return on equity of 23.43%. Veracyte updated its FY 2019 guidance to EPS.

Shares of VCYT stock opened at $27.00 on Friday. Veracyte has a fifty-two week low of $8.77 and a fifty-two week high of $31.18. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -43.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.32 and a quick ratio of 6.06. The business’s 50-day simple moving average is $28.34.

A number of brokerages have commented on VCYT. Lake Street Capital began coverage on shares of Veracyte in a report on Wednesday. They issued a “buy” rating and a $35.00 target price for the company. Needham & Company LLC set a $34.00 target price on shares of Veracyte and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Veracyte from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Saturday, May 4th. ValuEngine lowered Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, BidaskClub upgraded Veracyte from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $25.06.

In other news, insider Christopher M. Hall sold 115,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $25.26, for a total transaction of $2,904,900.00. Following the sale, the insider now owns 71,462 shares in the company, valued at $1,805,130.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bonnie H. Anderson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $22.99, for a total value of $183,920.00. Following the sale, the chairman now owns 103,292 shares in the company, valued at approximately $2,374,683.08. The disclosure for this sale can be found here. Insiders have sold 139,000 shares of company stock worth $3,529,780 in the last 90 days. Insiders own 8.30% of the company’s stock.

About Veracyte

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

See Also: Swap

Earnings History for Veracyte (NASDAQ:VCYT)

Receive News & Ratings for Veracyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte and related companies with MarketBeat.com's FREE daily email newsletter.