Veracyte (NASDAQ:VCYT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Veracyte (NASDAQ:VCYT) from a hold rating to a buy rating in a report published on Saturday.

Several other analysts have also recently issued reports on VCYT. Craig Hallum assumed coverage on Veracyte in a research note on Thursday, March 20th. They issued a “buy” rating and a $45.00 price objective on the stock. UBS Group cut their price target on Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC cut their price target on Veracyte from $51.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Guggenheim cut their price target on Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Stephens restated an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.90.

Veracyte Stock Up 0.8%

NASDAQ:VCYT opened at $26.64 on Friday. The stock’s fifty day moving average is $29.39 and its two-hundred day moving average is $35.32. Veracyte has a 52 week low of $19.73 and a 52 week high of $47.32. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -177.60 and a beta of 2.09.

Hedge Funds Weigh In On Veracyte

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after buying an additional 237 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Veracyte by 1,267.6% during the first quarter. Versant Capital Management Inc now owns 930 shares of the biotechnology company’s stock worth $28,000 after buying an additional 862 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Veracyte during the first quarter worth about $48,000. GF Fund Management CO. LTD. purchased a new position in shares of Veracyte during the fourth quarter worth about $64,000. Finally, US Bancorp DE grew its holdings in shares of Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after buying an additional 647 shares during the last quarter.

Veracyte Company Profile

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.