-$0.25 Earnings Per Share Expected for Veracyte, Inc. (NASDAQ:VCYT) This Quarter

Equities research analysts forecast that Veracyte, Inc. (NASDAQ:VCYT) will announce ($0.25) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Veracyte’s earnings, with estimates ranging from ($0.30) to ($0.21). Veracyte reported earnings of ($0.22) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 13.6%. The company is expected to report its next earnings results on Thursday, July 29th.

According to Zacks, analysts expect that Veracyte will report full-year earnings of ($1.33) per share for the current year, with EPS estimates ranging from ($1.45) to ($1.20). For the next year, analysts anticipate that the firm will report earnings of ($0.61) per share, with EPS estimates ranging from ($0.80) to ($0.28). Zacks’ EPS averages are an average based on a survey of analysts that follow Veracyte.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, May 10th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. Veracyte had a negative return on equity of 5.91% and a negative net margin of 52.87%. The firm had revenue of $36.70 million for the quarter, compared to the consensus estimate of $34.52 million.

Several research firms have recently issued reports on VCYT. Needham & Company LLC dropped their price target on shares of Veracyte from $88.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, May 11th. SVB Leerink cut their target price on Veracyte from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, May 11th. Morgan Stanley decreased their price target on Veracyte from $65.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, May 12th. William Blair reiterated a “buy” rating on shares of Veracyte in a report on Thursday, May 27th. Finally, Truist lowered their target price on shares of Veracyte from $84.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $54.67.

In other news, insider Giulia C. Kennedy sold 9,081 shares of the firm’s stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $34.63, for a total value of $314,475.03. Following the completion of the transaction, the insider now directly owns 57,218 shares in the company, valued at $1,981,459.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jens Holstein purchased 2,000 shares of the business’s stock in a transaction on Thursday, June 3rd. The stock was purchased at an average cost of $35.19 per share, with a total value of $70,380.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $70,380. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc boosted its holdings in shares of Veracyte by 19.5% during the first quarter. IFP Advisors Inc now owns 1,979 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 323 shares during the period. Great West Life Assurance Co. Can raised its holdings in Veracyte by 10.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,916 shares of the biotechnology company’s stock worth $209,000 after purchasing an additional 361 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Veracyte by 34.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,677 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 433 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Veracyte by 21.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,550 shares of the biotechnology company’s stock valued at $125,000 after purchasing an additional 450 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Veracyte by 5.4% during the 1st quarter. Amalgamated Bank now owns 9,435 shares of the biotechnology company’s stock valued at $507,000 after purchasing an additional 483 shares in the last quarter.

NASDAQ:VCYT traded up $1.17 during mid-day trading on Thursday, hitting $36.69. 70,828 shares of the company’s stock were exchanged, compared to its average volume of 941,859. Veracyte has a fifty-two week low of $22.69 and a fifty-two week high of $86.03. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -33.35 and a beta of 0.73. The stock’s 50 day moving average is $44.32.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas, which are used to identify patients with benign thyroid nodules among those with indeterminate cytopathology results in order to rule out unnecessary thyroid surgery; Percepta Genomic Sequencing Classifier for lung cancer diagnosis; Envisia Genomic Classifier that help physicians to differentiate idiopathic pulmonary fibrosis from other interstitial lung diseases without the need for surgery; and Prosigna Breast Cancer Prognostic Gene Signature Assay test that informs next steps for patients with early-stage breast cancer, as well as provides cancer subtype classification information.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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