Veracyte (NASDAQ:VCYT – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
Several other analysts have also recently weighed in on the stock. Zacks Research cut shares of Veracyte from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Piper Sandler decreased their target price on shares of Veracyte from $66.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Needham & Company LLC cut their target price on Veracyte from $69.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group decreased their price objective on shares of Veracyte from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.40.
Check Out Our Latest Analysis on VCYT
Veracyte Stock Performance
VCYT stock opened at $24.16 on Friday. Veracyte has a one year low of $21.91 and a one year high of $60.91. The stock has a market capitalization of $1.94 billion, a P/E ratio of 32.24 and a beta of 1.98. The company has a 50 day moving average price of $44.07 and a two-hundred day moving average price of $42.87.
Veracyte (NASDAQ:VCYT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.10. Veracyte had a net margin of 20.37% and a return on equity of 9.26%. The firm had revenue of $151.75 million for the quarter, compared to analyst estimates of $147.13 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Research analysts forecast that Veracyte will post 1.32 earnings per share for the current fiscal year.
Insider Transactions at Veracyte
In other news, Director Jens Holstein sold 7,500 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $50.00, for a total value of $375,000.00. Following the completion of the sale, the director directly owned 27,471 shares of the company’s stock, valued at $1,373,550. This represents a 21.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Leite sold 4,015 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $40.00, for a total transaction of $160,600.00. Following the transaction, the insider directly owned 124,329 shares in the company, valued at $4,973,160. This represents a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 62,609 shares of company stock worth $2,858,904. 1.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Veracyte
A number of institutional investors and hedge funds have recently bought and sold shares of VCYT. BlackRock Inc. acquired a new stake in Veracyte during the second quarter valued at $792,058,000. William Blair Investment Management LLC lifted its position in Veracyte by 89.2% in the third quarter. William Blair Investment Management LLC now owns 2,709,212 shares of the biotechnology company’s stock valued at $124,732,000 after purchasing an additional 1,277,616 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Veracyte by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,881,090 shares of the biotechnology company’s stock worth $92,787,000 after buying an additional 80,614 shares during the last quarter. Congress Asset Management Co. purchased a new position in Veracyte during the third quarter worth about $89,971,000. Finally, First Trust Advisors LP raised its holdings in Veracyte by 64.9% in the first quarter. First Trust Advisors LP now owns 2,117,046 shares of the biotechnology company’s stock valued at $68,190,000 after buying an additional 833,543 shares during the period.
Trending Headlines about Veracyte
Here are the key news stories impacting Veracyte this week:
- Positive Sentiment: Veracyte reported Q3 adjusted EPS of $0.51, ahead of estimates, and revenue of $151.75 million, up 15.1% year over year and above consensus. Veracyte tops Q3 earnings and revenue estimates
- Positive Sentiment: The company authorized a share buyback plan, which could provide some support for the stock, though the provided report does not specify its size or timing. Veracyte authorizes a buyback plan
- Negative Sentiment: The main concern is Veracyte’s reduced 2026 revenue outlook, tied to slower-than-expected growth in Decipher Prostate volumes. Management also cited increased investment in breast and bladder cancer tests, potentially weighing on near-term margins and growth. Q3 call highlights slower growth and added investment
- Negative Sentiment: Analyst sentiment weakened after the outlook cut: Leerink Partners downgraded VCYT to Market Perform from Outperform and lowered its price target to $35 from $55. Needham also reduced its target, to $46 from $69, while retaining a Buy rating. Veracyte downgraded after guidance cut
- Negative Sentiment: Several law firms announced investigations into potential securities claims following the company’s disclosures and sharp share-price decline. These are investigations, not findings of wrongdoing, but may add uncertainty for investors. Shareholder investigation notice
Veracyte Company Profile
Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.
The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.
Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.
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