Veracyte (VCYT) Scheduled to Post Quarterly Earnings on Tuesday

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

Veracyte (NASDAQ:VCYT) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Veracyte had a negative return on equity of 2.02% and a negative net margin of 20.61%. The company 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 Trading Up 0.8 %

NASDAQ:VCYT opened at $20.35 on Monday. The stock has a fifty day simple moving average of $21.19 and a 200 day simple moving average of $23.84. Veracyte has a 1-year low of $18.61 and a 1-year high of $30.52.

Insider Activity at Veracyte

In other Veracyte news, Director Karin Eastham sold 10,000 shares of Veracyte stock in a transaction on 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 sale, the director now owns 33,125 shares of the company’s stock, valued at approximately $717,156.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VCYT shares. The Goldman Sachs Group decreased their target price 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. Needham & Company LLC raised their price objective on shares of Veracyte from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. William Blair reissued an “outperform” rating on shares of Veracyte in a research note on Friday, February 23rd. Finally, Morgan Stanley decreased their target price on Veracyte from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.