Stock Track | Veracyte Soars 8.5% on Strong Q3 Earnings, Bullish Analyst Outlook

Stock Track11-07

Shares of Veracyte Inc. (VCYT) surged 8.5% in premarket trading on Tuesday, fueled by the company's impressive third-quarter 2024 financial results and bullish analyst reactions.

Veracyte reported quarterly adjusted earnings of $0.19 per share, significantly higher than analysts' expectations of $0.03 per share. The company's revenue also exceeded estimates, rising 28.6% year-over-year to $115.86 million, surpassing the consensus forecast of $109.81 million.

Following the strong quarterly performance, several analysts have raised their price targets and reiterated buy ratings on Veracyte. UBS analyst raised the firm's price target on Veracyte to $46 from $43, citing the company's robust financial results and growth potential. Needham analyst Michael Matson reiterated a Buy rating and increased the price target to $44, highlighting Veracyte's strong financial performance and growth prospects.

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(VCYT) surged 8.5% in premarket trading on Tuesday, fueled by the company's impressive third-quarter 2024 financial results and bullish analyst reactions.\nVeracyte reported ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VCYT","symbol_name":"Veracyte Inc","start_time":0,"source_url":"","article_id":"1141485799","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1141485799","pubTimestamp":1730990180,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Veracyte Inc.  surged 8.5% in premarket trading on Tuesday, fueled by the company's impressive third-quarter 2024 financial results and bullish analyst reactions.Veracyte reported quarterly adjusted earnings of $0.19 per share, significantly higher than analysts' expectations of $0.03 per share. 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