In a report released today, Michael Matson from Needham assigned a Buy rating to Veracyte (VCYT), with a price target of $54.00. The company’s shares closed last Thursday at $37.45.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 15.5% and a 66.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veracyte with a $62.20 average price target, implying a 67.1% upside from current levels. In a report issued on May 11, Leerink Partners also initiated coverage with a Buy rating on the stock with a $65.00 price target.
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The company has a one-year high of $86.03 and a one-year low of $22.69. Currently, Veracyte has an average volume of 943.5K.
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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.
