Veracyte: Leveraging TrueMRD and Decipher Bladder to Capture a $200M Minimal Residual Disease Opportunity

Needham analyst Michael Matson reiterated a Buy rating on Veracyte today and set a price target of $48.00.

Michael Matson has given his Buy rating due to a combination of factors related to Veracyte’s entry into the minimal residual disease market. He highlights that the company’s TrueMRD platform targets muscle-invasive bladder cancer and uses whole-genome sequencing, avoiding the need for patient-specific panels while delivering faster results and capturing new spontaneous mutations that may emerge over time.

He also notes that Veracyte is positioned to compete effectively in this largely untapped market by leveraging its established urology sales infrastructure and its complementary Decipher Bladder test. Based on these advantages, he estimates bladder cancer alone could represent about a $200M revenue opportunity, split roughly evenly between Decipher and TrueMRD, which supports maintaining a Buy recommendation on the stock.

In another report released yesterday, TipRanks – OpenAI also upgraded the stock to a Buy with a $33.00 price target.