Scotiabank raised the firm’s price target on Veracyte (VCYT) to $44 from $40 and keeps an Outperform rating on the shares. The company’s Q3 revenue beat was driven by testing revenue growth of 34% year-over-year, the analyst tells investors. For Decipher, a prognostic tool for prostate cancer, its strength continues to be attributable to the recent National Comprehensive Cancer Network guideline updates and expanding amount of clinical evidence available. For Afirma, a thryoid cancer test, the company is making better-than-expected progress on the “long tail” of the unpenetrated end of the market.
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Read More on VCYT:
- Veracyte price target raised to $46 from $43 at UBS
- Veracyte Inc. Reports Strong Q3 2024 Growth
- Veracyte reports Q3 adjusted EPS 33c, consensus 3c
- Veracyte raises FY24 revenue view to $442M-$445M from $432M-$438M
- VCYT Earnings this Week: How Will it Perform?
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