Favorable News Coverage Somewhat Likely to Impact Veracyte (NASDAQ:VCYT) Stock Price

Media stories about Veracyte (NASDAQ:VCYT) have trended positive this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to 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 gave news articles about the biotechnology company an impact score of 50 out of 100, meaning that recent media coverage is somewhat likely to have an effect on the stock’s share price in the near future.

These are some of the news articles that may have impacted Accern Sentiment’s scoring:

Veracyte (NASDAQ VCYT) traded up 1.09% on Friday, hitting $8.38. The stock had a trading volume of 67,166 shares. The company has a 50-day moving average of $7.99 and a 200 day moving average of $8.16. Veracyte has a 12 month low of $4.82 and a 12 month high of $9.71. The company’s market cap is $283.83 million.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.24) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.24). The business had revenue of $16.43 million for the quarter, compared to analysts’ expectations of $18.09 million. Veracyte had a negative return on equity of 66.79% and a negative net margin of 43.40%. On average, analysts predict that Veracyte will post ($0.92) EPS for the current fiscal year.

VCYT has been the subject of several research reports. Cantor Fitzgerald set a $13.00 price target on shares of Veracyte and gave the company a “buy” rating in a research report on Thursday, May 4th. Janney Montgomery Scott reissued a “buy” rating and issued a $15.00 target price on shares of Veracyte in a report on Wednesday, June 28th. Finally, BidaskClub raised shares of Veracyte from a “strong sell” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.83.

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About Veracyte

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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