Veracyte price target raised to $44 from $40 at Scotiabank

Scotiabank raised the firm’s price target on Veracyte (VCYT) to $44 from $40 and keeps an Outperform rating on the shares. The company’s Q3 revenue beat was driven by testing revenue growth of 34% year-over-year, the analyst tells investors. For Decipher, a prognostic tool for prostate cancer, its strength continues to be attributable to the recent National Comprehensive Cancer Network guideline updates and expanding amount of clinical evidence available. For Afirma, a thryoid cancer test, the company is making better-than-expected progress on the “long tail” of the unpenetrated end of the market.