Veracyte initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Veracyte (VCYT) with a Buy rating and $45 price target The oncology-focused commercial laboratory has a “market-leading position” in prostate and thyroid cancer and a pipeline of other diagnostic assays for solid tumors, notes the analyst, who believes the company can sustain double-digit revenue growth beyond 2027. With shares down about 12% year-to-date, recent stock performance has “disappointed,” but the firm sees multiple near-term catalysts that can improve sentiment, the analyst added.