Veracyte Got Some Good News

By Ryan Adsit

In a report released today, Paul Knight from Janney Montgomery upgraded Veracyte (NASDAQ: VCYT) to Buy. The company’s shares closed yesterday at $7.68.

According to TipRanks.com, Knight is a 3-star analyst with an average return of 3.9% and a 65.2% success rate. Knight covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Foundation Medicine, and Mesa Laboratories.

Currently, the analyst consensus on Veracyte is Strong Buy and the average price target is $10, representing a 30.2% upside.

In a report issued on November 14, Leerink Swann also reiterated a Buy rating on the stock with a $12 price target.

The company has a one year high of $8.45 and a one year low of $4.21. Currently, Veracyte has an average volume of 109.3K.

Veracyte, Inc. is a molecular diagnostics company which uses novel genomics to resolve the critical healthcare problem of diagnostic ambiguity. The company discovers, develops and commercializes molecular diagnostic solutions that enable physicians to make more informed treatment decisions early. Veracyte was founded by Bonnie H. Anderson and Y. Douglas Dolginow on August 15, 2006 and is headquartered in South San Francisco, CA.