UPDATE: Truist Securities Starts Veracyte, Inc (VCYT) at Buy, "Long runway to further penetrate the market'
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Truist Securities analyst Sandy Draper initiates coverage on Veracyte, Inc (NASDAQ: VCYT) with a Buy rating and a price target of $61.00.
The analyst comments "Veracyte specializes in improving diagnosis and prognosis accuracy for Thyroid, Lung and Breast cancers by helping to inform when costly interventions such as surgeries can be avoided. With its recent acquisition of nCounter from Nanostring and a breadth of products in their pipeline, we believe Veracyte is well positioned for accelerated growth as they continue to expand their testing menu and gain broader adoption from customers."
Shares of Veracyte, Inc closed at $52.57 yesterday.
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