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. Parties that wish to listen to the company’s conference call can do so using this link.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data 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 the consensus estimate 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 Up 0.8 %

Shares of VCYT opened at $20.35 on Friday. Veracyte has a 52-week low of $18.61 and a 52-week high of $30.52. The stock has a market cap of $1.56 billion, a PE ratio of -19.76 and a beta of 1.65. The firm’s fifty day moving average is $21.19 and its two-hundred day moving average is $23.82.

Insider Buying and Selling

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. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VCYT shares. Morgan Stanley cut their price objective on shares of Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, February 26th. Needham & Company LLC boosted their price objective on Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group dropped their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.