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Investing.com - Morgan Stanley (NYSE:MS) has reduced its price target on Veracyte, Inc (NASDAQ:VCYT) to $28.00 from $29.00 while maintaining an Underweight rating on the stock. According to InvestingPro data, the company’s current market capitalization stands at $2.17 billion, with analyst targets ranging from $29 to $45.
The adjustment follows what Morgan Stanley described as a "solid 2Q beat" for the company, driven by continued momentum in Veracyte’s Decipher and Afirma product lines.
The strong quarterly performance led Veracyte to raise its guidance for 2025, with the company now providing total company guidance following the resolution of its Veracyte SAS manufacturing business issues.
Morgan Stanley noted that Veracyte’s pipeline is "promising and represents substantial opportunity" for the diagnostic company’s future growth prospects.
Despite the positive developments, Morgan Stanley indicated that "meaningful upside remains a 2027+ dynamic," suggesting significant financial benefits from these pipeline opportunities may not materialize for several years.
In other recent news, Veracyte Inc . reported impressive second-quarter results for 2025, significantly surpassing analyst expectations. The company’s earnings per share (EPS) reached $0.44, a substantial increase from the anticipated $0.11, resulting in a 300% surprise. Additionally, Veracyte’s revenue for the quarter was $130.2 million, exceeding the forecasted $121.1 million. William Blair has reiterated its Outperform rating for Veracyte, citing the strong quarterly performance as a key reason. The company’s revenue was reported to be 8% above consensus estimates, or 6% higher when excluding prior-period collections. Despite these positive financial outcomes, Veracyte’s stock experienced a decline in after-hours trading. The recent developments reflect the company’s strong financial health and the positive outlook from analysts like William Blair.
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