Veracyte (NASDAQ:VCYT) Downgraded by Leerink Partners to Market Perform

Leerink Partners lowered shares of Veracyte (NASDAQ:VCYT) from an outperform rating to a market perform rating in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $35.00 target price on the biotechnology company’s stock, down from their previous target price of $55.00.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group cut their target price on shares of Veracyte from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, August 3rd. Needham & Company LLC reiterated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 15th. Wall Street Zen downgraded shares of Veracyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings lowered shares of Veracyte from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Finally, Stephens cut their price objective on shares of Veracyte from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Veracyte Stock Performance

Shares of VCYT opened at $24.00 on Thursday. The business’s fifty day moving average price is $44.49 and its two-hundred day moving average price is $42.95. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 15.48 and a beta of 1.98. Veracyte has a 52 week low of $21.91 and a 52 week high of $60.91.

Veracyte (NASDAQ:VCYT) last released its earnings results on Wednesday, November 4th. The biotechnology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. Veracyte had a return on equity of 9.13% and a net margin of 21.80%. The company had revenue of $151.75 million during the quarter, compared to the consensus estimate of $147.13 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, research analysts forecast that Veracyte will post 1.32 EPS for the current year.

Insider Buying and Selling

In other news, Director Jens Holstein sold 7,500 shares of Veracyte stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $50.00, for a total transaction of $375,000.00. Following the transaction, the director directly owned 27,471 shares of the company’s stock, valued at $1,373,550. This trade represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Annie Mcguire sold 3,254 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $43.09, for a total transaction of $140,214.86. Following the completion of the transaction, the executive vice president directly owned 131,160 shares of the company’s stock, valued at $5,651,684.40. This trade represents a 2.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 62,609 shares of company stock worth $2,858,904 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in Veracyte by 7.5% during the 3rd quarter. Fifth Third Bancorp now owns 55,232 shares of the biotechnology company’s stock worth $2,543,000 after purchasing an additional 3,831 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Veracyte by 54.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 17,964 shares of the biotechnology company’s stock valued at $827,000 after purchasing an additional 6,359 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Veracyte by 7.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,795 shares of the biotechnology company’s stock valued at $742,000 after purchasing an additional 1,121 shares during the period. Candriam S.C.A. lifted its holdings in shares of Veracyte by 38.1% in the third quarter. Candriam S.C.A. now owns 186,387 shares of the biotechnology company’s stock valued at $8,613,000 after purchasing an additional 51,392 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Veracyte in the third quarter valued at about $648,000.

More Veracyte News

Here are the key news stories impacting Veracyte this week:

• Positive Sentiment: Third-quarter adjusted EPS of $0.51 beat analyst estimates of about $0.41, while revenue rose 15% year over year to $151.8 million, also topping expectations. Veracyte Q3 2026 results
• Positive Sentiment: The company announced a $100 million share repurchase program, which may provide some support for shares. Veracyte Q3 2026 results
• Negative Sentiment: The main pressure is a cut to the company’s outlook and a major shift affecting Afirma, its best-selling test. Investors appear concerned about the implications for future performance, overshadowing the quarterly earnings beat. Analysis of Veracyte’s decline
• Negative Sentiment: Leerink Partners downgraded VCYT to Market Perform from Outperform and cut its price target to $35 from $55. Needham also lowered its target, to $46 from $69, although it maintained a Buy rating. Leerink downgrade
• Negative Sentiment: Ademi LLP said it is investigating potential securities-fraud claims against Veracyte. The announcement adds a legal overhang, but an investigation is not a finding of wrongdoing. Shareholder investigation announcement

Veracyte Company Profile

Veracyte, Inc is a diagnostics company that develops genomic tests to help physicians diagnose cancer, assess disease risk and guide treatment decisions. Its tests are designed to provide additional molecular information from patient samples, often helping reduce uncertainty and support more personalized care.

The company’s portfolio includes Afirma tests for thyroid nodules, Decipher tests for prostate cancer, Percepta tests for lung cancer and Envisio tests for breast cancer. Veracyte also develops and commercializes additional genomic assays intended for use across various cancer types and clinical settings.

Founded in 2008 and headquartered in South San Francisco, California, Veracyte primarily serves the U.S.