Seeking Alpha

Veracyte initiated at Outperform by Leerink, Cowen, and William Blair

  • Veracyte (VCYT +10.3%) shares jump after Leerink (PT of $17), Cowen (PT of $16), and William Blair (previous) initiate the stock at Outperform. Morgan Stanley, the last of the 4 underwriters, has not yet issued a rating.
  • Leerink Swann analyst Dan Leonard observes "several upcoming catalysts should  drive outperformance of VCYT's stock over the next 12 months, including: (1) continued physician adoption of its Afirma test to help resolve indeterminate thyroid nodules, (2) additional guideline endorsement and reimbursement coverage for Afirma, (3) launch of the Afirma malignant test (2Q:14), and (4) presentation of lung data in 2014."
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