Veracyte Inc. (NASDAQ:VCYT) has been given a $13.00 price target by investment analysts at Cantor Fitzgerald in a research note issued on Sunday. The firm currently has a “buy” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 67.74% from the company’s current price.
VCYT has been the subject of a number of other reports. Zacks Investment Research upgraded Veracyte from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $10.00 price objective (down from $12.00) on shares of Veracyte in a research note on Thursday, August 4th. Finally, William Blair restated an “outperform” rating on shares of Veracyte in a research note on Tuesday, October 18th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Veracyte currently has an average rating of “Buy” and a consensus price target of $10.55.
Shares of Veracyte (NASDAQ:VCYT) traded up 0.26% on Friday, hitting $7.75. 42,744 shares of the company traded hands. Veracyte has a 1-year low of $4.21 and a 1-year high of $8.45. The stock’s market capitalization is $216.61 million. The firm’s 50 day moving average price is $7.44 and its 200-day moving average price is $6.05.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.16. The company earned $18.60 million during the quarter, compared to the consensus estimate of $15.76 million. Veracyte had a negative return on equity of 88.36% and a negative net margin of 57.45%. The firm’s revenue was up 50.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) EPS. On average, equities research analysts expect that Veracyte will post ($1.26) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acuta Capital Partners LLC increased its position in Veracyte by 89.6% in the fourth quarter. Acuta Capital Partners LLC now owns 1,716,000 shares of the company’s stock worth $12,355,000 after buying an additional 811,000 shares in the last quarter. Cannell Capital LLC purchased a new position in Veracyte during the third quarter worth approximately $2,897,000. Vanguard Group Inc. increased its position in Veracyte by 60.8% in the second quarter. Vanguard Group Inc. now owns 526,438 shares of the company’s stock worth $2,648,000 after buying an additional 199,073 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in Veracyte during the second quarter worth approximately $940,000. Finally, Federated Investors Inc. PA increased its position in Veracyte by 88.9% in the fourth quarter. Federated Investors Inc. PA now owns 320,000 shares of the company’s stock worth $2,304,000 after buying an additional 150,639 shares in the last quarter. Institutional investors and hedge funds own 47.49% of the company’s stock.