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Veracyte was upgraded to the Zacks Rank #1 list on August 14, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in San Francisco, CA, Veracyte is a global diagnostics company that provides clinicians valuable insights to diagnose and treat cancer. The company has a wide array of advanced genomic tests that leverage deep scientific, clinical and machine learning expertise and other capabilities. Presently, the portfolio includes Afirma (for thyroid cancer), Decipher Prostate (prostate cancer), Prosigna (breast cancer), Envisia (interstitial lung diseases) and Decipher Bladder (bladder cancer), with additional tests in development.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.15 to $0.14 per share. VCYT boasts an average earnings surprise of 328.4%.
Analysts are expecting earnings to grow 113.7% for the current fiscal year, with revenue forecasted to rise 21%.
Even more impressive, VCYT has gained in value over the past four weeks, up 6.1% compared to the S&P 500's gain of 5.4%.
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Veracyte could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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Veracyte, Inc. (VCYT) : Free Stock Analysis Report
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