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

Veracyte

08/05/2024 24:22

* Veracyte Inc  VCYT.OQ  reported a quarterly adjusted loss
of 2
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of -11
cents.  The mean expectation of nine analysts for the quarter
was for a loss of 18 cents per share. Wall Street expected
results to range from -22 cents to -14 cents per share.
    * Revenue rose 17.5% to $96.84 million from a year ago;
analysts
expected $93.37 million. 
    * Veracyte Inc's reported EPS for the quarter was a loss
of 2
cents​.
    * The company reported a quarterly loss of $1.86 million.
    * Veracyte Inc shares had fallen by 5.6% this quarter and
lost 24.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 90.6%
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 6 "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
$32.50 
This summary was machine generated from LSEG data May 7 at 11:22
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
 Mar. 31 2024      -0.18          -0.02          Beat
 Dec. 31 2023      -0.09          -0.39          Missed
 Sep. 30 2023      -0.15          -0.41          Missed
 Jun. 30 2023      -0.15          -0.12          Beat