Veracyte (VCYT) Receives a Buy from Needham

In a report released today, Stephen Unger from Needham reiterated a Buy rating on Veracyte (VCYTResearch Report), with a price target of $34.00. The company’s shares closed last Monday at $26.26.

According to TipRanks.com, Unger is a 4-star analyst with an average return of 15.0% and a 78.4% success rate. Unger covers the Healthcare sector, focusing on stocks such as Myriad Genetics, Thermo Fisher, and PerkinElmer.

Currently, the analyst consensus on Veracyte is a Moderate Buy with an average price target of $34.00.

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The company has a one-year high of $31.18 and a one-year low of $10.72. Currently, Veracyte has an average volume of 604.8K.

Based on the recent corporate insider activity of 51 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.

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Veracyte, Inc. engages in the research, development, and commercialization of diagnostic products. Its portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis.