Veracyte (VCYT) Expected to Announce Earnings on Monday

Veracyte (NASDAQ:VCYT) is anticipated to release its earnings data after the market closes on Monday, February 24th. Analysts expect Veracyte to post earnings of $0.29 per share and revenue of $116.69 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Veracyte Price Performance

NASDAQ:VCYT opened at $39.18 on Friday. Veracyte has a 1-year low of $18.61 and a 1-year high of $47.32. The company has a 50-day moving average of $42.04 and a 200 day moving average of $37.22. The firm has a market cap of $3.04 billion, a PE ratio of -261.20 and a beta of 1.71.

Insider Buying and Selling at Veracyte

In related news, CAO Jonathan Wygant sold 5,032 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.89, for a total value of $215,822.48. Following the transaction, the chief accounting officer now owns 42,313 shares in the company, valued at approximately $1,814,804.57. This represents a 10.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now directly owns 18,497 shares of the company’s stock, valued at $745,429.10. This represents a 35.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,565 shares of company stock worth $1,031,406. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on VCYT. UBS Group upped their price objective on shares of Veracyte from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank increased their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, November 18th. Wolfe Research assumed coverage on shares of Veracyte in a research note on Friday, November 15th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Veracyte Company Profile

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.