Veracyte price target raised to $33 from $30 at Needham

Needham raised the firm’s price target on Veracyte to $33 from $30 and keeps a Buy rating on the shares. The company’s Q4 revenue topped its positive pre-announcement last month, with growth improving to 25% as s Testing more than offset another steep decline for Biopharma and Other revenue, the analyst tells investors in a research note. Veracyte also expects to be cash flow positive again in 2024 despite the C2i acquisition, the firm added.