A share price of Veracyte Inc [VCYT] is currently trading at $21.43, up 3.58%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The VCYT shares have gain 4.49% over the last week, with a monthly amount drifted -5.68%, and not seem to be holding up well over a long-time horizon.
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On 27, February 2024, Veracyte’s Decipher Prostate Test Receives Highest Evidence-Level Rating Among Molecular Tests in Updated Prostate Cancer NCCN Guidelines. In a post published today on Yahoo Finance, Veracyte, Inc. (Nasdaq: VCYT), a leading cancer diagnostics company, today announced that its Decipher Prostate Genomic Classifier is the only gene expression test to receive a “Level 1B” evidence rating in the 2024 NCCN* Clinical Practice Guidelines in Oncology (NCCN Guidelines®) as a prognostic tool for the risk stratification of patients with localized prostate cancer. Level 1B was assigned to Decipher Prostate based on the evidence in both the post-biopsy and post-prostatectomy settings. Additionally, because of this classification, the Decipher Prostate test is the only gene expression test for which the guidelines synthesize the available published data in a separate table that summarizes treatment implications for patients based on both their NCCN risk classification and Decipher score.
From an analyst’s perspective:
Veracyte Inc [NASDAQ: VCYT] stock has seen the most recent analyst activity on February 23, 2024, when Needham reiterated its Buy rating and also boosted its price target to $33 from $30. Previously, Raymond James downgraded its rating to Mkt Perform on January 18, 2023. On January 05, 2023, Scotiabank initiated with a Sector Outperform rating and assigned a price target of $33 on the stock. Stephens started tracking the stock assigning a Overweight rating and suggested a price target of $52 on January 07, 2022. Raymond James started tracking with a Outperform rating for this stock on June 15, 2021, and assigned it a price target of $45.
Veracyte Inc experienced fluctuations in its stock price throughout the past year between $19.52 and $30.52. Currently, Wall Street analysts expect the stock to reach $24.5 within the next 12 months. Veracyte Inc [NASDAQ: VCYT] shares were valued at $21.43 at the most recent close of the market. An investor can expect a potential return of 14.33% based on the average VCYT price forecast.
Analyzing the VCYT fundamentals
Trailing Twelve Months sales for Veracyte Inc [NASDAQ:VCYT] were 361.05M which represents 22.29% growth. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at -0.14%, Pretax Profit Margin comes in at -0.21%, and Net Profit Margin reading is -0.2%. To continue investigating profitability, this company’s Return on Assets is posted at -0.06, Equity is -0.07 and Total Capital is -0.05. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.01.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 20.93 points at the first support level, and at 20.43 for the second support level. However, for the 1st resistance point, the stock is sitting at 21.69, and for the 2nd resistance point, it is at 21.95.
Veracyte Inc [VCYT] reported earnings per share of -$0.39 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.09/share, meaning a difference of -$0.3 and a surprise factor of -333.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.41 per share as compared to estimates of -$0.15 per share, a difference of -$0.26 representing a surprise of -173.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Veracyte Inc [NASDAQ:VCYT] is 4.66. Further, the Quick Ratio stands at 4.40, while the Cash Ratio is 3.53. Considering the valuation of this stock, the price to sales ratio is 4.46, the price to book ratio is 1.50.
Transactions by insiders
Recent insider trading involved EASTHAM KARIN, Director, that happened on Apr 01 ’24 when 10000.0 shares were sold. Director, JONES EVAN/ FA completed a deal on Mar 01 ’24 to sell 10000.0 shares. Meanwhile, Director JONES EVAN/ FA sold 3090.0 shares on Jul 19 ’23.
