In a report released today, Tejas Savant from Morgan Stanley maintained a Sell rating on Veracyte (VCYT – Research Report), with a price target of $65.00. The company’s shares closed last Monday at $67.30.
According to TipRanks.com, Savant is a 4-star analyst with an average return of 23.7% and a 68.4% success rate. Savant covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Pacific Biosciences, and NanoString Tech.
Currently, the analyst consensus on Veracyte is a Moderate Buy with an average price target of $73.00.
The company has a one-year high of $86.03 and a one-year low of $13.90. Currently, Veracyte has an average volume of 858.3K.
Based on the recent corporate insider activity of 78 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. Last month, 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.