Diagnostic Tests Maker Veracyte's Q2 Is 'All-Around Very Good Quarter': Analysts Maintain Bullish View
Portfolio Pulse from Vandana Singh
Veracyte, Inc. (NASDAQ:VCYT) reported strong Q2 results with sales of $114.43 million, up 27% YoY, and adjusted EPS of $0.30, beating expectations. The company raised its full-year 2024 revenue guidance and received positive analyst ratings. VCYT stock rose 24.60% following the news.
August 07, 2024 | 6:08 pm
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Veracyte reported strong Q2 results with sales of $114.43 million, up 27% YoY, and adjusted EPS of $0.30, beating expectations. The company raised its full-year 2024 revenue guidance and received positive analyst ratings. VCYT stock rose 24.60%.
Veracyte's strong Q2 performance, increased revenue guidance, and positive analyst ratings are likely to boost investor confidence and drive the stock price higher in the short term. The 24.60% rise in stock price following the news indicates a positive market reaction.
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