Media headlines about Veracyte (NASDAQ:VCYT) have trended positive on Tuesday, according to Accern. The research group rates the sentiment of media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Veracyte earned a daily sentiment score of 0.31 on Accern’s scale. Accern also assigned news stories about the biotechnology company an impact score of 62 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the stock’s share price in the near future.
Veracyte (NASDAQ VCYT) remained flat at $7.90 during midday trading on Tuesday. The company had a trading volume of 8,539 shares. Veracyte has a 1-year low of $4.82 and a 1-year high of $9.71. The stock has a 50 day moving average of $8.02 and a 200-day moving average of $8.08. The company’s market capitalization is $267.57 million.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.24). The company had revenue of $16.43 million during the quarter, compared to the consensus estimate of $18.09 million. Veracyte had a negative return on equity of 66.79% and a negative net margin of 43.40%. Equities research analysts anticipate that Veracyte will post ($0.92) EPS for the current year.
VCYT has been the subject of several research analyst reports. Cantor Fitzgerald set a $13.00 price objective on Veracyte and gave the company a “buy” rating in a report on Thursday, March 2nd. Zacks Investment Research cut Veracyte from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. Finally, BTIG Research restated a “buy” rating and set a $12.00 price target on shares of Veracyte in a research note on Friday, March 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Veracyte currently has an average rating of “Buy” and a consensus target price of $11.20.
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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.
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