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Veracyte, Inc. (VCYT) operates as a genomic diagnostics company in the United States and internationally.
The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
It sells its products through product specialists, account managers, and medical science specialists. Veracyte, Inc. has a strategic collaboration with Johnson & Johnson, LLC and Johnson & Johnson's Lung Cancer Initiative to advance diagnostics of a nasal swab test for early lung cancer detection; a research collaboration with Loxo Oncology for the development of therapies for patients with genetically defined cancers; and an agreement with Johnson & Johnson Services, Inc. for the development and commercialization of novel diagnostic tests to detect lung cancer.
On April 30th, Veracyte (VCYT) reported a 1st Quarter March 2019 loss of $0.05 per share on revenue of $29.5 million. The consensus estimate was a loss of $0.07 per share on revenue of $28.2 million. Revenue grew 47.3% on a year-over-year basis.
The company said it expects 2019 revenue of $117.0 million to $121.0 million. The company's previous guidance was revenue of $113.0 million to $117.0 million and the current consensus estimate is revenue of $114.9 million for the year ending December 31, 2019. Since the earnings report, shares have formed a double bottom formation and are expected to move higher from present levels.
Entry Point: $26.50
Trading Range: $7.56 - $26.80
Stop Loss: $25.15
Target Price: $29.15
VCYT closed at $28.20
