Veracyte Inc reports results for the quarter ended in June - Earnings Summary

Veracyte

07/08/2024 24:33

* Veracyte Inc  VCYT.OQ  reported quarterly adjusted
earnings of 7
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -12
cents.  The mean expectation of ten analysts for the quarter was
for a loss of 2 cents per share. Wall Street expected results to
range from -6 cents to 6 cents per share.
    * Revenue rose 26.7% to $114.43 million from a year ago;
analysts
expected $100.27 million. 
    * Veracyte Inc shares had fallen by 3.1% this quarter and
lost 23.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 71.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "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
$31.00 
This summary was machine generated from LSEG data August 6 at
11:33 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.02          0.07           Beat
 Mar. 31 2024      -0.16          -0.02          Beat
 Dec. 31 2023      -0.09          -0.39          Missed
 Sep. 30 2023      -0.15          -0.41          Missed