In a report issued on May 20, Brian Weinstein from William Blair maintained a Buy rating on Veracyte (VCYT). The company’s shares closed last Wednesday at $40.40.
According to TipRanks.com, Weinstein is a 4-star analyst with an average return of 16.2% and a 61.0% success rate. Weinstein covers the Healthcare sector, focusing on stocks such as Guardant Health, Lucira Health, and 10x Genomics.
Currently, the analyst consensus on Veracyte is a Moderate Buy with an average price target of $62.20, representing a 62.8% upside. 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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Veracyte’s market cap is currently $2.72B and has a P/E ratio of -36.70. The company has a Price to Book ratio of 7.99.
Based on the recent corporate insider activity of 70 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. Earlier this month, Bonnie Anderson, the Chairman & CEO of VCYT bought 14,065 shares for a total of $78,905.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
