Guggenheim starts Veracyte at Buy, sees ‘robust’ revenue growth

As previously reported, Guggenheim initiated coverage of Veracyte with a Buy rating and $40 price target With the company’s “new” management team, Veracyte is a key player in lab diagnostics moving into its next phase of growth and responsible operations, joining other companies that are successfully “moving into the era of responsible growth and innovation,” contends the analyst. Veracyte has a unique diagnostic testing platform and operates in niche applications with limited competition, adds the firm, which believes progress over the next several quarters will continue driving “robust” revenue growth.