Veracyte Momentum Builds Around Decipher Ahead of FY22 Numbers
February 9, 2023
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Veracyte ($NASDAQ:VCYT), Inc. is a leading precision medicine company with a focus on transforming the diagnosis and treatment of cancer and other diseases through comprehensive genomic solutions. The company provides non-invasive molecular tests and genomic solutions to help healthcare professionals diagnose, treat and monitor their patients. Veracyte is gaining momentum as investors anticipate the potential of its Decipher product, as discussed in an article written by Zach Bristow on Seeking Alpha. Decipher, Veracyte’s genomic test for prostate cancer, is making waves within the industry for its ability to accurately predict which patients have aggressive or indolent disease. Decipher is the only genomic test available to help physicians better identify the most suitable care for prostate cancer patients. Due to the accuracy and effectiveness of Decipher, Veracyte is expected to see a significant rise in its financial results for the upcoming fiscal year 2022.
The article from Seeking Alpha goes on to discuss the various ways Veracyte has secured and broadened access to Decipher while also diversifying its revenue streams. Furthermore, Bristow notes that Veracyte stands to benefit from the emergence of an expanding clinical landscape, with an increasing number of clinical applications in oncology and other diseases. As a result, Bristow believes that Veracyte is set to capitalize on its innovative medical technology while continuing to expand its market share. Investors are optimistic that Veracyte will continue to deliver on its promise to transform the diagnosis and treatment of cancer through its precision medicine solutions.
Stock Price
On Wednesday, VERACYTE stock opened at $25.9 and closed at $25.9, down by 1.2% from last closing price of 26.2. This dip in stock price is likely momentary, however, as the company has been making impressive progress in rolling out Decipher to healthcare organizations worldwide. The Decipher platform is designed to help physicians better interpret genomic test results for patients with cancer, allowing for more personalized patient care. The company also recently announced that it has added a number of new features to its platform, which have been well-received by customers.
Analysts believe that the company’s recent acquisitions and partnerships will be key drivers of growth for the company in FY22 and beyond. Overall, investors and analysts seem bullish on Veracyte‘s prospects going forward. The company is well-positioned to capitalize on the growing demand for personalized patient care, and Veracyte’s momentum should continue to build leading up to its FY22 numbers. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Veracyte. More…
| Total Revenues | Net Income | Net Margin |
| 283.57 | -43.24 | -15.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Veracyte. More…
| Operations | Investing | Financing |
| 6.24 | -2.57 | 3.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Veracyte. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.13k | 77.78 | 14.83 |
Key Ratios Snapshot
Some of the financial key ratios for Veracyte are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 34.6% | – | -16.5% |
| FCF Margin | ROE | ROA |
| -0.5% | -2.8% | -2.6% |
Analysis
GoodWhale has conducted an analysis of VERACYTE‘s wellbeing, and the results indicate that it is classified as a ‘cheetah’ – a company that has achieved high revenue or earnings growth, yet is considered less stable due to lower profitability. This type of company may be of interest to investors who are looking for high returns but willing to accept higher levels of risk. When looking at VERACYTE’s financial health, GoodWhale has identified that it is strong in asset and growth and weak in dividend and profitability. This indicates that VERACYTE’s focus is on development and growth, rather than return on investment. However, GoodWhale has given VERACYTE an intermediate health score of 4/10 with regard to its cashflows and debt, suggesting that the company should be able to survive any crisis without bankruptcy. It does not have a particularly high level of profitability, but it appears to have sufficient cashflows and debt to ride out any crisis. Investors who are looking for high returns but willing to accept higher levels of risk may be interested in this kind of company. More…
Peers
The company’s competitors include Exact Sciences Corp, Invitae Corp, and NanoString Technologies Inc.
– Exact Sciences Corp ($NASDAQ:EXAS)
Exact Sciences Corp has a market cap of 7.56B as of 2022. The company’s ROE for the same year is -14.13%.
Exact Sciences Corp is a biotechnology company that focuses on the development of cancer detection tests. The company’s flagship product is Cologuard, a stool-based DNA test that can detect the presence of colorectal cancer.
– Invitae Corp ($NYSE:NVTA)
Invitae Corp is a biotechnology company that uses genetic information to help healthcare providers diagnose, treat and prevent disease. The company has a market cap of 689.82M as of 2022 and a Return on Equity of -120.15%.
– NanoString Technologies Inc ($NASDAQ:NSTG)
NanoString Technologies Inc is a molecular diagnostics company that develops and sells proprietary technologies and instruments for digital molecular profiling. The company has a market capitalization of 313.93 million as of 2022 and a return on equity of -87.4%. NanoString’s technology is based on a unique digital detection platform that can measure the expression of hundreds of genes simultaneously with high accuracy and precision. The company’s products are used in a variety of applications, including gene expression profiling, copy number variation analysis, single-nucleotide polymorphism genotyping, and mRNA quantification. NanoString’s products are sold to a diverse customer base, including academic research institutions, government laboratories, pharmaceutical and biotechnology companies, and diagnostic laboratories.
Summary
Veracyte is a medical technology company that specializes in genomic-based diagnostic solutions to help diagnose difficult-to-diagnose conditions. The company’s products are used to analyze genetic information in order to identify disease states and enable personalized treatment. Veracyte’s Decipher platform has been gaining traction in the market and there is an increasing focus on the company ahead of its FY22 numbers. Investors are looking to Veracyte as a potential growth stock, as the demand for its diagnostic solutions is expected to continue to rise.
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