Today’s Rating On Watch: Will Janney Capital Upgrade Harm Veracyte (NASDAQ:VCYT) Stock Price Today?

November 29, 2016 - By Peter Erickson

Today's Rating On Watch:  Will Janney Capital Upgrade Harm Veracyte (NASDAQ:VCYT) Stock Price Today?

Veracyte (NASDAQ:VCYT) Upgrade

Expert analysts at Janney Capital’s equity research division raised Veracyte (NASDAQ:VCYT)‘s stock from a Neutral to Buy on Tuesday, 29 November.

Veracyte Inc (NASDAQ:VCYT) Ratings Coverage

Out of 3 analysts covering Veracyte (NASDAQ:VCYT), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $13 is the highest target while $8 is the lowest. The $11.40 average target is 44.30% above today’s ($7.9) stock price. Veracyte has been the topic of 5 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Cantor Fitzgerald initiated Veracyte Inc (NASDAQ:VCYT) rating on Friday, December 18. Cantor Fitzgerald has “Buy” rating and $13.0 price target. The stock of Veracyte Inc (NASDAQ:VCYT) has “Buy” rating given on Friday, August 14 by BTIG Research. The stock has “Overweight” rating given by Piper Jaffray on Friday, August 14.

About 135,268 shares traded hands. Veracyte Inc (NASDAQ:VCYT) has risen 31.51% since April 26, 2016 and is uptrending. It has outperformed by 26.25% the S&P500.

Analysts await Veracyte Inc (NASDAQ:VCYT) to report earnings on March, 9. They expect $-0.25 earnings per share, up 13.79% or $0.04 from last year’s $-0.29 per share. After $-0.20 actual earnings per share reported by Veracyte Inc for the previous quarter, Wall Street now forecasts 25.00% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 2 in Q2 2016. Its up 0.59, from 1.41 in 2016Q1. The ratio increased, as 3 funds sold all Veracyte Inc shares owned while 14 reduced positions. 6 funds bought stakes while 18 increased positions. They now own 15.02 million shares or 1.37% less from 15.23 million shares in 2016Q1.

Northern Tru holds 152,210 shares or 0% of its portfolio. State Common Retirement Fund, a New York-based fund reported 12,300 shares. Eventide Asset Llc reported 2.25 million shares or 0.69% of all its holdings. Bnp Paribas Arbitrage has 558 shares for 0% of their US portfolio. Acuta Cap Partners Ltd Com reported 3.19 million shares or 7.71% of all its holdings. Kopp Inv Advsr Limited Liability Corp last reported 0.06% of its portfolio in the stock. Clearbridge Ltd has invested 0% of its portfolio in Veracyte Inc (NASDAQ:VCYT). General Electr has invested 0.01% of its portfolio in Veracyte Inc (NASDAQ:VCYT). Blackrock Institutional Tru Na, a California-based fund reported 138,275 shares. Moreover, First Light Asset Mgmt Lc has 1.27% invested in Veracyte Inc (NASDAQ:VCYT) for 546,021 shares. Schwab Charles Investment Mngmt Incorporated holds 0% or 23,200 shares in its portfolio. Bridgeway Capital Inc holds 0.01% or 151,000 shares in its portfolio. Morgan Stanley has 6,785 shares for 0% of their US portfolio. Manufacturers Life Insur Com The holds 0% or 1,014 shares in its portfolio. Moreover, Consonance Mgmt Limited Partnership has 0.12% invested in Veracyte Inc (NASDAQ:VCYT) for 165,825 shares.

Veracyte, Inc. is a molecular diagnostics company. The company has a market cap of $257.28 million. The Firm is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. It currently has negative earnings. The Firm targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively.

According to Zacks Investment Research, “Veracyte, Inc. is a diagnostics company. It is focused on discovering, developing and commercializing molecular cytology solutions. The Company provides Afirma Thyroid FNA Analysis, which helps physicians in reducing unnecessary diagnostic surgeries for patients with thyroid nodules. Veracyte is also developing Afirma Malignant GEC test. It serves endocrinologists, radiologists, and head and neck specialists. Veracyte, Inc. is headquartered in South San Francisco, California.”

VCYT Company Profile

Veracyte, Inc., incorporated on August 15, 2006, is a molecular diagnostics company. The Firm is engaged in developing and delivering genomic solutions that resolve diagnostic ambiguity and enable physicians to make informed treatment decisions at an early-stage in patient care. The Firm targets diseases in which various patients undergo diagnostic procedures that could be avoided with diagnosis from a cytology sample taken preoperatively. The Company’s activities are based in South San Francisco, California and Austin, Texas, and it operates in the United States.

More notable recent Veracyte Inc (NASDAQ:VCYT) news were published by: Prnewswire.com which released: “Veracyte Appoints Keith Kennedy as Chief Financial Officer” on November 21, 2016, also Marketwatch.com with their article: “Veracyte upgraded to buy from neutral at Janney Montgomery Scott” published on November 26, 2013, Prnewswire.com published: “Veracyte Announces Pricing of Public Offering of 5000000 Shares of Common Stock” on November 02, 2016. More interesting news about Veracyte Inc (NASDAQ:VCYT) were released by: Prnewswire.com and their article: “Veracyte Announces Third Quarter 2016 Financial Results” published on November 03, 2016 as well as Prnewswire.com‘s news article titled: “Veracyte Announces Launch of Envisiaâ„¢ Genomic Classifier for Improved …” with publication date: October 25, 2016.

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