Veracyte (VCYT) Scheduled to Post Earnings on Tuesday

Veracyte (NASDAQ:VCYT) will issue its quarterly earnings data after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of ($0.07) per share for the quarter. Veracyte has set its FY 2019 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Tuesday, July 30th. The biotechnology company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. Veracyte had a negative net margin of 11.01% and a negative return on equity of 10.26%. The business had revenue of $30.14 million during the quarter, compared to the consensus estimate of $29.20 million. On average, analysts expect Veracyte to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of NASDAQ VCYT opened at $25.22 on Tuesday. Veracyte has a fifty-two week low of $9.20 and a fifty-two week high of $31.18. The company has a 50 day simple moving average of $25.10 and a two-hundred day simple moving average of $25.66. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -40.68 and a beta of 0.97.

In other news, CEO Bonnie H. Anderson sold 8,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $24.50, for a total transaction of $196,000.00. Following the sale, the chief executive officer now owns 109,467 shares in the company, valued at $2,681,941.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Walter Hanna, Jr. sold 18,593 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.66, for a total transaction of $477,096.38. Following the sale, the insider now owns 84,085 shares in the company, valued at approximately $2,157,621.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,881 shares of company stock worth $2,825,964. Corporate insiders own 8.30% of the company’s stock.

VCYT has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Veracyte from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Saturday. Lake Street Capital initiated coverage on shares of Veracyte in a research note on Wednesday, July 31st. They set a “buy” rating and a $35.00 target price for the company. TheStreet raised shares of Veracyte from a “d” rating to a “c-” rating in a research note on Thursday, August 1st. Needham & Company LLC set a $34.00 target price on shares of Veracyte and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BidaskClub raised shares of Veracyte from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.86.

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 solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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Earnings History for Veracyte (NASDAQ:VCYT)

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