Veracyte Shares Plunge After Leerink Downgrade, Narrower 2026 Revenue Outlook

MT Newswires Live11-06 03:57

Veracyte (VCYT) shares slumped more than 56% in Thursday afternoon trading after Leerink Partners downgraded the stock following the company's Q3 results.

The company reported Q3 non-GAAP earnings late Wednesday of $0.51 per diluted share, unchanged from a year earlier.

Analysts polled by FactSet expected $0.41.

Total revenue for the quarter ended Sept. 30 rose to $151.8 million, up from $131.9 million a year earlier.

Analysts expected $147.1 million.

Veracyte revised its full-year 2026 total revenue guidance to a range of $590 million to $593 million, compared with its previous forecast of $590 million to $596 million. Analysts expect $593 million.

Leerink Partners downgraded the company's stock to market-perform from outperform.

Price: 22.83, Change: -29.69, Percent Change: -56.53

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