Veracyte Inc (VCYT) Given Average Recommendation of “Hold” by Analysts

Veracyte Inc (NASDAQ:VCYT) has received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.67.

VCYT has been the subject of a number of recent research reports. BTIG Research set a $13.00 price objective on Veracyte and gave the company a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research upgraded Veracyte from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Janney Montgomery Scott lowered Veracyte from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies lowered Veracyte from an “overweight” rating to a “neutral” rating in a research note on Tuesday, November 7th. Finally, Leerink Swann reduced their price objective on Veracyte from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Veracyte by 46.3% during the 4th quarter. BlackRock Inc. now owns 1,842,981 shares of the biotechnology company’s stock valued at $12,034,000 after acquiring an additional 583,582 shares during the period. ARK Investment Management LLC grew its position in shares of Veracyte by 187.2% during the 4th quarter. ARK Investment Management LLC now owns 1,402,264 shares of the biotechnology company’s stock valued at $9,157,000 after acquiring an additional 913,926 shares during the period. Stonepine Capital Management LLC grew its position in shares of Veracyte by 274.3% during the 4th quarter. Stonepine Capital Management LLC now owns 1,235,147 shares of the biotechnology company’s stock valued at $8,066,000 after acquiring an additional 905,147 shares during the period. Vanguard Group Inc. grew its position in shares of Veracyte by 8.1% during the 2nd quarter. Vanguard Group Inc. now owns 892,378 shares of the biotechnology company’s stock valued at $7,434,000 after acquiring an additional 66,518 shares during the period. Finally, Millennium Management LLC grew its position in shares of Veracyte by 3.0% during the 4th quarter. Millennium Management LLC now owns 780,770 shares of the biotechnology company’s stock valued at $5,098,000 after acquiring an additional 23,089 shares during the period. Hedge funds and other institutional investors own 74.76% of the company’s stock.

Veracyte (VCYT) opened at $5.66 on Wednesday. The firm has a market capitalization of $194.03, a PE ratio of -6.99 and a beta of 1.63. Veracyte has a 52 week low of $5.23 and a 52 week high of $9.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19.

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Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

Analyst Recommendations for Veracyte (NASDAQ:VCYT)

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