William Blair analyst Andrew Brackmann has maintained their bullish stance on VCYT stock, giving a Buy rating today.
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Andrew Brackmann has given his Buy rating due to a combination of factors including Veracyte’s strong performance in recent quarters and promising future prospects. The company has exceeded expectations in key financial metrics, such as total revenue and AEBITDA margin, which indicates robust and consistent growth. This financial strength allows Veracyte to invest in its pipeline, which is expected to drive further growth.
Moreover, the upcoming pipeline launches, particularly the MRD test and Prosigna LDT, are anticipated to add significant value to the company’s shares. Although these launches may not result in immediate substantial revenue increases, they are expected to enhance long-term growth and profitability. The current trading price of Veracyte’s shares is seen as undervaluing the potential of its pipeline, which supports the Buy rating.
In another report released today, Needham also maintained a Buy rating on the stock with a $44.00 price target.