Veracyte Inc reports results for the quarter ended March 31 - Earnings Summary

• Veracyte Inc VCYT.OQ reported quarterly adjusted earnings of 9 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -2 cents. The mean expectation of thirteen analysts for the quarter was for earnings of 5 cents per share. Wall Street expected results to range from -4 cents to 22 cents per share.

• Revenue rose 18.2% to $114.47 million from a year ago; analysts expected $111.11 million.

• Veracyte Inc's reported EPS for the quarter was 9 cents​.

• The company reported quarterly net income of $7.05 million.

• Veracyte Inc shares had risen by 3.1% this quarter and lost 22.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 43.1% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy," 2 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the biotechnology & medical research peer group is also "buy"

• Wall Street's median 12-month price target for Veracyte Inc is $45.00

This summary was machine generated from LSEG data May 7 at 09:42 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)