Veracyte (VCYT) Expected to Announce Earnings on Monday

Veracyte (NASDAQ:VCYT) will likely be announcing its earnings results after the market closes on Monday, February 24th. Analysts expect the company to announce earnings of $0.29 per share and revenue of $116.69 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Veracyte Trading Down 4.6 %

Veracyte stock opened at $39.18 on Friday. The firm has a market cap of $3.04 billion, a PE ratio of -261.20 and a beta of 1.71. Veracyte has a 12 month low of $18.61 and a 12 month high of $47.32. The stock’s 50 day simple moving average is $42.04 and its two-hundred day simple moving average is $37.22.

Analyst Ratings Changes

VCYT has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, November 18th. StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a research report on Tuesday. Scotiabank lifted their price target on Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Friday, November 8th. Needham & Company LLC increased their price target on Veracyte from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Wolfe Research started coverage on Veracyte in a report on Friday, November 15th. They issued an “outperform” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $40.30, for a total transaction of $403,000.00. Following the completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jonathan Wygant sold 956 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.36, for a total transaction of $41,452.16. Following the completion of the sale, the chief accounting officer now owns 40,270 shares of the company’s stock, valued at $1,746,107.20. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,565 shares of company stock valued at $1,031,406 over the last quarter. 1.30% of the stock is currently owned by insiders.

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.