Veracyte, Inc. (NASDAQ:VCYT) Stock Catapults 27% Though Its Price And Business Still Lag The Industry
Despite an already strong run, Veracyte, Inc. (NASDAQ:VCYT) shares have been powering on, with a gain of 27% in the last thirty days. Looking further back, the 11% rise over the last twelve months isn’t too bad notwithstanding the strength over the last 30 days.
Although its price has surged higher, Veracyte may still be sending buy signals at present with its price-to-sales (or “P/S”) ratio of 7x, considering almost half of all companies in the Biotechs industry in the United States have P/S ratios greater than 11.6x and even P/S higher than 104x aren’t out of the ordinary. Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s limited.
