Veracyte (VCYT) Scheduled to Post Quarterly Earnings on Tuesday

Veracyte (NASDAQ:VCYT) will announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Individual interested in participating in the company’s conference call can do so using this link.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Veracyte had a negative net margin of 20.61% and a negative return on equity of 2.02%. The firm had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.49 million. On average, analysts expect Veracyte to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Veracyte Price Performance

VCYT opened at $20.35 on Monday. Veracyte has a 1-year low of $18.61 and a 1-year high of $30.52. The company’s 50 day simple moving average is $21.19 and its two-hundred day simple moving average is $23.84.

Analyst Ratings Changes

Several equities research analysts have weighed in on VCYT shares. William Blair restated an “outperform” rating on shares of Veracyte in a report on Friday, February 23rd. Morgan Stanley lowered their price target 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. The Goldman Sachs Group decreased their price objective on shares of Veracyte from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Finally, Needham & Company LLC increased their target price on Veracyte from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Veracyte has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Transactions at Veracyte

In related news, Director Karin Eastham sold 10,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the transaction, the director now directly owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Veracyte Company Profile

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.