Needham analyst Michael Matson assigned a Buy rating to Veracyte (VCYT) today and set a price target of $88.00. The company’s shares closed last Tuesday at $55.04.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 17.1% and a 72.0% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
Veracyte has an analyst consensus of Moderate Buy, with a price target consensus of $79.00, a 51.2% upside from current levels. In a report issued on April 8, Leerink Partners also maintained a Buy rating on the stock.
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The company has a one-year high of $86.03 and a one-year low of $21.19. Currently, Veracyte has an average volume of 1.04M.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VCYT in relation to earlier this year. Most recently, in January 2021, Evan Fa Jones, a Director at VCYT bought 5,000 shares for a total of $11,800.
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Veracyte, Inc. engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H. Anderson and Y. Douglas Dolginow on August 15, 2006 and is headquartered in South San Francisco, CA.
